PureTech Health Announces Voluntary Delisting of American Depositary Shares
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2026
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Should l Buy PRTC?
PureTech Health announced that it has notified Nasdaq of its intention to voluntarily delist its American depositary shares, each representing the right to receive 10 ordinary shares of the company. Following the effectiveness of the delisting, PureTech's ordinary shares will remain listed on the London Stock Exchange, which will continue to serve as the company's primary trading venue. Following a review of the company's listing structure and shareholder trading patterns, the board of directors determined that maintaining a dual listing is no longer necessary. The substantial majority of trading volume, liquidity, and price discovery for PureTech's shares occurs on the LSE, and the majority of the company's current investor base as well as the company's governance framework are centered in the United Kingdom. Following the delisting, and until such time as PureTech may consider terminating its American depositary receipt program, PureTech expects its ADSs to be quoted and traded on the over-the-counter market via a sponsored Level 1 ADR program. No action is required to be taken by ADS holders at this time.
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About PRTC
PureTech Health plc is a clinical-stage company dedicated to giving life to new classes of medicine to change the lives of patients with devastating diseases. The Company is engaged in the development of around 29 therapeutics and therapeutic candidates, including three that have been approved by the United States Food and Drug Administration. A number of these programs are advanced by the Company or its Founded Entities in various indications and stages of clinical development. Its primary programs include LYT-100 and LYT-200. Deupirfenidone (LYT-100) is being developed as a potential new standard of care (SOC) for the treatment of idiopathic pulmonary fibrosis (IPF). LYT-200 is an anti-galectin-9 monoclonal antibody (mAb) being developed for the treatment of hematological malignancies, including acute myeloid leukemia (AML) and high-risk myelodysplastic syndromes (MDS), as well as solid tumors, including head and neck cancers, with a focus on metastatic disease.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
PureTech Announces Voluntary Delisting Plan
- Financial Update: As of December 31, 2025, PureTech reported consolidated cash, cash equivalents, and short-term investments totaling $277.3 million, which decreased to $248.1 million by March 31, 2026, indicating a decline in liquidity that may impact future investment capabilities.
- Delisting Notification: PureTech has notified Nasdaq of its intention to voluntarily delist, which means the company will no longer trade on the U.S. market, potentially raising concerns among investors regarding liquidity and market visibility, thereby affecting shareholder confidence.
- Change of Trading Venue: Despite the delisting from Nasdaq, PureTech's ordinary shares will continue to be listed on the London Stock Exchange, indicating a strategic shift towards the European market, which may better serve its primary investor base.
- IPO Developments: Concurrently, PureTech's neuropsychiatric drug development subsidiary, Seaport, has filed for a U.S. IPO, which could provide new funding sources for the company, although the overall market environment remains uncertain.
See More
PureTech Health Reports 2025 Financial Results and Strategic Update
- Financial Overview: As of December 31, 2025, PureTech reported total cash and short-term investments of $277 million, indicating sufficient funding to support operations through at least the end of 2028, which enhances investor confidence.
- Product Development Progress: Celea Therapeutics' deupirfenidone is ready to enter Phase 3 clinical trials, with financing expected to close in early Q3 2026, which could significantly enhance the company's market position in idiopathic pulmonary fibrosis if successful.
- Strategic Restructuring Plan: The company plans to voluntarily delist from Nasdaq and focus on its listing on the London Stock Exchange to simplify its structure and reduce costs, which is expected to improve operational efficiency and enhance engagement with investors.
- Commitment to Shareholder Returns: PureTech commits to returning a greater proportion of future cash generation to shareholders, particularly in the event of outsized returns, demonstrating the company's focus on shareholder value.
See More
Seaport Therapeutics Appoints Dr. Sharon Mates to Board of Directors
- New Board Member: Seaport Therapeutics has appointed Dr. Sharon Mates to its Board of Directors; she previously co-founded and served as CEO of Intra-Cellular Therapies, leading the company to a $14.6 billion acquisition by Johnson & Johnson in 2025, showcasing her exceptional leadership in the biopharmaceutical sector.
- Extensive Industry Experience: Dr. Mates brings decades of experience in neuropsychiatry, having successfully commercialized CAPLYTA® and continued its market growth post-acquisition by J&J, which is expected to significantly support Seaport's mission.
- Strategic Collaboration Outlook: Dr. Mates expressed great interest in Seaport's programs and looks forward to collaborating closely with founder Daphne Zohar and other team members to drive the company's continued growth and develop life-changing treatments for patients.
- Innovative Drug Development: Seaport Therapeutics focuses on developing new medicines for depression, anxiety, and other neuropsychiatric disorders, and Dr. Mates' addition is anticipated to enhance the company's R&D capabilities, helping it stand out in a competitive market.
See More
Seaport Therapeutics Files for IPO to Develop Neuropsychiatric Drugs
- IPO Filing Submitted: Seaport Therapeutics (SPTX) has filed for an initial public offering with the SEC, aiming to list on the Nasdaq under the symbol 'SPTX', marking a significant step for the company in terms of financing and market expansion.
- Funding Utilization: The proceeds from the IPO will be allocated to multiple operational activities, particularly for R&D related to its lead asset GlyphAllo, an oral prodrug aimed at treating major depressive disorder, demonstrating the company's commitment to drug development.
- Clinical Trial Progress: GlyphAllo is currently undergoing a Phase 2 trial named BUOY-1, with topline results expected in H1 2027, which will have a substantial impact on the company's future development and market positioning.
- Financial Overview: As of December 31, 2025, Seaport reported an accumulated deficit of $114.1 million, with a net loss in 2025 rising approximately 60% year-over-year to $74.9 million, indicating challenges in profitability despite significant R&D potential.
See More
Deupirfenidone Shows Significant Efficacy in Idiopathic Pulmonary Fibrosis
- Significant Efficacy: In a 26-week clinical trial, deupirfenidone 825 mg TID monotherapy significantly slowed lung function decline in patients with idiopathic pulmonary fibrosis, with an adjusted mean FVC difference of 91 mL (p=0.02), approaching the lung function changes expected in healthy aging, indicating its potential in treatment.
- Standard Treatment Comparison: This trial is the first industry-sponsored IPF trial to include a current standard-of-care treatment as an active comparator, enhancing the interpretability of efficacy and safety findings and laying a solid foundation for the upcoming Phase 3 SURPASS-IPF trial.
- Financing Plans: PureTech's subsidiary, Celea Therapeutics, is working to complete financing to initiate the Phase 3 SURPASS-IPF trial in the first half of 2026, aiming to further validate the efficacy of deupirfenidone and push it towards becoming a new standard of care.
- Drug Exposure and Tolerability: Deupirfenidone 825 mg TID showed approximately 50% greater drug exposure compared to pirfenidone 801 mg TID, yet the incidence of adverse events was similar (85.9% vs 84.1%), demonstrating its ability to enhance efficacy while maintaining good tolerability.
See More
Seaport Therapeutics Announces Positive Clinical Data for GlyphAgo
- Clinical Trial Success: Seaport Therapeutics reported positive topline data from its GlyphAgo clinical trial, demonstrating a 6.8-fold increase in bioavailability compared to unmodified agomelatine, exceeding the expected 2-fold target, indicating GlyphAgo's potential in treating generalized anxiety disorder (GAD).
- Good Safety Profile: GlyphAgo exhibited good tolerability across all evaluated doses in the trial, with no serious adverse events or liver-related side effects reported, enhancing its safety profile and potential market acceptance.
- Follow-up Trial Plans: Based on the trial results, Seaport plans to advance GlyphAgo into two parallel clinical trials, including a Phase 2a trial to assess its potential sleep benefits in GAD patients and a registration-enabling Phase 2b randomized controlled trial, further validating its clinical application.
- Platform Advantages: GlyphAgo leverages Seaport's Glyph platform to avoid first-pass liver metabolism, enhancing systemic exposure to agomelatine while reducing liver exposure risks, positioning it as a leading treatment option for GAD and addressing unmet market needs.
See More
PureTech Announces Voluntary Delisting Plan
- Financial Update: As of December 31, 2025, PureTech reported consolidated cash, cash equivalents, and short-term investments totaling $277.3 million, which decreased to $248.1 million by March 31, 2026, indicating a decline in liquidity that may impact future investment capabilities.
- Delisting Notification: PureTech has notified Nasdaq of its intention to voluntarily delist, which means the company will no longer trade on the U.S. market, potentially raising concerns among investors regarding liquidity and market visibility, thereby affecting shareholder confidence.
- Change of Trading Venue: Despite the delisting from Nasdaq, PureTech's ordinary shares will continue to be listed on the London Stock Exchange, indicating a strategic shift towards the European market, which may better serve its primary investor base.
- IPO Developments: Concurrently, PureTech's neuropsychiatric drug development subsidiary, Seaport, has filed for a U.S. IPO, which could provide new funding sources for the company, although the overall market environment remains uncertain.
See More
PureTech Health Reports 2025 Financial Results and Strategic Update
- Financial Overview: As of December 31, 2025, PureTech reported total cash and short-term investments of $277 million, indicating sufficient funding to support operations through at least the end of 2028, which enhances investor confidence.
- Product Development Progress: Celea Therapeutics' deupirfenidone is ready to enter Phase 3 clinical trials, with financing expected to close in early Q3 2026, which could significantly enhance the company's market position in idiopathic pulmonary fibrosis if successful.
- Strategic Restructuring Plan: The company plans to voluntarily delist from Nasdaq and focus on its listing on the London Stock Exchange to simplify its structure and reduce costs, which is expected to improve operational efficiency and enhance engagement with investors.
- Commitment to Shareholder Returns: PureTech commits to returning a greater proportion of future cash generation to shareholders, particularly in the event of outsized returns, demonstrating the company's focus on shareholder value.
See More
Seaport Therapeutics Appoints Dr. Sharon Mates to Board of Directors
- New Board Member: Seaport Therapeutics has appointed Dr. Sharon Mates to its Board of Directors; she previously co-founded and served as CEO of Intra-Cellular Therapies, leading the company to a $14.6 billion acquisition by Johnson & Johnson in 2025, showcasing her exceptional leadership in the biopharmaceutical sector.
- Extensive Industry Experience: Dr. Mates brings decades of experience in neuropsychiatry, having successfully commercialized CAPLYTA® and continued its market growth post-acquisition by J&J, which is expected to significantly support Seaport's mission.
- Strategic Collaboration Outlook: Dr. Mates expressed great interest in Seaport's programs and looks forward to collaborating closely with founder Daphne Zohar and other team members to drive the company's continued growth and develop life-changing treatments for patients.
- Innovative Drug Development: Seaport Therapeutics focuses on developing new medicines for depression, anxiety, and other neuropsychiatric disorders, and Dr. Mates' addition is anticipated to enhance the company's R&D capabilities, helping it stand out in a competitive market.
See More
Seaport Therapeutics Files for IPO to Develop Neuropsychiatric Drugs
- IPO Filing Submitted: Seaport Therapeutics (SPTX) has filed for an initial public offering with the SEC, aiming to list on the Nasdaq under the symbol 'SPTX', marking a significant step for the company in terms of financing and market expansion.
- Funding Utilization: The proceeds from the IPO will be allocated to multiple operational activities, particularly for R&D related to its lead asset GlyphAllo, an oral prodrug aimed at treating major depressive disorder, demonstrating the company's commitment to drug development.
- Clinical Trial Progress: GlyphAllo is currently undergoing a Phase 2 trial named BUOY-1, with topline results expected in H1 2027, which will have a substantial impact on the company's future development and market positioning.
- Financial Overview: As of December 31, 2025, Seaport reported an accumulated deficit of $114.1 million, with a net loss in 2025 rising approximately 60% year-over-year to $74.9 million, indicating challenges in profitability despite significant R&D potential.
See More
Deupirfenidone Shows Significant Efficacy in Idiopathic Pulmonary Fibrosis
- Significant Efficacy: In a 26-week clinical trial, deupirfenidone 825 mg TID monotherapy significantly slowed lung function decline in patients with idiopathic pulmonary fibrosis, with an adjusted mean FVC difference of 91 mL (p=0.02), approaching the lung function changes expected in healthy aging, indicating its potential in treatment.
- Standard Treatment Comparison: This trial is the first industry-sponsored IPF trial to include a current standard-of-care treatment as an active comparator, enhancing the interpretability of efficacy and safety findings and laying a solid foundation for the upcoming Phase 3 SURPASS-IPF trial.
- Financing Plans: PureTech's subsidiary, Celea Therapeutics, is working to complete financing to initiate the Phase 3 SURPASS-IPF trial in the first half of 2026, aiming to further validate the efficacy of deupirfenidone and push it towards becoming a new standard of care.
- Drug Exposure and Tolerability: Deupirfenidone 825 mg TID showed approximately 50% greater drug exposure compared to pirfenidone 801 mg TID, yet the incidence of adverse events was similar (85.9% vs 84.1%), demonstrating its ability to enhance efficacy while maintaining good tolerability.
See More
Seaport Therapeutics Announces Positive Clinical Data for GlyphAgo
- Clinical Trial Success: Seaport Therapeutics reported positive topline data from its GlyphAgo clinical trial, demonstrating a 6.8-fold increase in bioavailability compared to unmodified agomelatine, exceeding the expected 2-fold target, indicating GlyphAgo's potential in treating generalized anxiety disorder (GAD).
- Good Safety Profile: GlyphAgo exhibited good tolerability across all evaluated doses in the trial, with no serious adverse events or liver-related side effects reported, enhancing its safety profile and potential market acceptance.
- Follow-up Trial Plans: Based on the trial results, Seaport plans to advance GlyphAgo into two parallel clinical trials, including a Phase 2a trial to assess its potential sleep benefits in GAD patients and a registration-enabling Phase 2b randomized controlled trial, further validating its clinical application.
- Platform Advantages: GlyphAgo leverages Seaport's Glyph platform to avoid first-pass liver metabolism, enhancing systemic exposure to agomelatine while reducing liver exposure risks, positioning it as a leading treatment option for GAD and addressing unmet market needs.
See More
