Shares of Profound Medical (TSX-V:PRN) will be eligible for trading on the OTCQX Best Market under the symbol, PRFMF, effective at the open on March 13.
"The U.S. is a key target market for the TULSA-PRO system and many of our shareholders are U.S.-based," CEO, Dr. Arun Menawat, said in a statement.
"Accordingly, this OTCQX listing is a natural evolution for Profound, which should increase our visibility and complement our efforts to broaden our U.S. shareholder base," he added.
TULSA-PRO system uses real-time MRI, with temperature feedback, in conjunction with ultrasound to deliver thermal energy to the prostate in order to ablate tissue and avoid side-effects.
Profound is currently conducting a pilot commercial launch of TULSA-PRO system in key European and other CE mark jurisdictions.
The company is also sponsoring a multicenter, prospective FDA-registered clinical trial, TACT, which if successful, would support Profound's application to the FDA for approval to market the TULSA-PRO system in the U.S.
Profound Medical's common shares will continue to trade on the TSX Venture Exchange under its existing symbol, PRN.