By: Matt Rego
Stereotaxis, Inc. (OTCQX: STXS) is a designer, manufacturer, and seller of robotic systems and other medical device accessories to treat abnormal heart rhythms in the U.S and globally. Shares of the medical device company declined 15% on heavy volume during the trading session on Thursday, August 04, 2016. Over the past three months, Stereotaxis, Inc. (OTCQX: STXS) has seen average daily volume of around 78,000 shares. However, the company is seeing heavy volume of nearly 892,000 shares or dollar volume of $695,760 already exchange hands during early trading Thursday.
The big news out today for the medical device company is that the stock has officially moved from the NASDAQ to the OTCQX exchange. Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group says Stereotaxis, Inc. (OTCQX: STXS) will allow the company to save a lot of time and money compared to exchange requirements of larger exchanges, such as the NASDAQ. However, being that the stock is facing a sharp sell off today as it begins on the OTCQX market, investors may not be sharing the same optimism as Mr. Paltrowitz. Here is the press release of the recent exchange move:
Stereotaxis, Inc. (OTCQX: STXS) Press Release
NEW YORK, Aug. 4, 2016 /PRNewswire/ — OTC Markets Group Inc. (OTCM), operator of financial markets for 10,000 U.S. and global securities, today announcedStereotaxis, Inc. (STXS), a healthcare technology and innovation leader focused on the development of robotic cardiology instrument navigation systems, has qualified to trade on the OTCQX® Best Market. Stereotaxis, Inc. previously traded on NASDAQ.
Stereotaxis, Inc. begins trading today on OTCQX under the symbol “STXS.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
“Stereotaxis platform is supported by over 100 issued patents, helping physicians provide unsurpassed patient care with robotic precision and safety,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. “Trading on OTCQX will allow Stereotaxis to continue to provide an efficient and transparent trading experience without the pain of an exchange listing, saving significant time and money. We are pleased to welcome the company to the OTCQX family.”
Bryan Cave LLP serves as Stereotaxis, Inc.’s OTCQX Advisor, responsible for providing professional guidance on OTCQX requirements and U.S. securities laws.
Stereotaxis is a healthcare technology and innovation leader in the development of robotic cardiology instrument navigation systems designed to enhance the treatment of arrhythmias and coronary disease, as well as information management solutions for the interventional lab.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.