For many years, the sentiment on this forum has been clear: to truly unlock Neuren Pharmaceuticals’ (NEU) full potential, a NASDAQ listing should be a top priority. The company has already made significant breakthroughs with its FDA-approved treatment for Rett syndrome and a promising pipeline, but the ASX simply lacks the liquidity and depth of investor participation that a cutting-edge biotech like Neuren requires.
A NASDAQ listing would not only increase exposure but also provide access to a far larger pool of institutional investors who are more familiar with valuing biotech companies at this stage of development. The U.S. market is more attuned to companies working in rare diseases and neurodevelopmental disorders, making it a natural fit for Neuren to be properly valued relative to its global peers.
One of the key factors holding back full value realization is the ASX’s limited reach in terms of biotech market understanding and participation. By contrast, NASDAQ-listed companies benefit from being compared and benchmarked against sector giants, providing both liquidity and price discovery that the ASX struggles to offer.
Take Rocket Lab as a case study. If Rocket Lab had stayed listed solely on the NZX, it’s unlikely it would have achieved its current market presence or garnered the comparisons to SpaceX. The NASDAQ listing gave it the exposure it needed to be taken seriously as a major player in the space industry. Neuren, with its unique pipeline, could experience a similar trajectory by moving to a more globally recognized exchange.
This topic is increasingly relevant and should be addressed at the next AGM, weighing the costs and regulatory requirements of a dual or full NASDAQ listing against the immense potential benefits of global capital markets access.
The broader question is: how long can Neuren afford not to capitalize on this opportunity, especially as its pipeline continues to mature?
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