Asterias Biotherapeutics to List its Series A Common Stock on NYSE MKT (TICKER: AST)

Asterias Biotherapeutics, Inc. ASTY announced today that it received approval to list its Series A common stock on the NYSE MKT under the ticker symbol "AST." The Company's shares are expected to begin trading on the NYSE MKT on October 8, 2014. Prior to that date, the Company's Series A common stock will continue to trade on the OTC Bulletin Board (OTCBB), but trading on the OTCBB market will cease concurrent with the listing of the Series A shares on the NYSE MKT. "Trading of our Series A common stock on the NYSE MKT is another major corporate milestone for Asterias," stated Pedro Lichtinger, President and CEO of Asterias. "We believe that the listing on the NYSE MKT will help increase trading liquidity and provide greater exposure to a larger group of investors while increasing awareness of our promising therapeutic products that have the potential to address significant unmet medical needs using our stem cell technology platform. We look forward to the trading of our Series A common stock on the NYSE MKT, the premier U.S. equities market for listing and trading of small growth companies." In preparation for listing on the NYSE MKT, the Company simplified its capital structure with the completion of the previously announced distribution of BioTime, Inc. common share purchase warrants to holders of Asterias Series A common stock, and with the conversion of all outstanding shares of its Series B common stock into Series A common stock. The Series A common stock is now the only outstanding class of common stock of Asterias. Mr. Lichtinger continued, "This move to the NYSE MKT comes at a time following the achievement of multiple major corporate milestones for Asterias. Since becoming a publicly traded company in July 2014, Asterias received U.S. FDA clearance to initiate a Phase 1/2a clinical trial of AST-OPC1 in patients with complete cervical spinal cord injury. In addition, Asterias secured non-dilutive funding to advance our immunotherapy cancer vaccine AST-VAC2 into clinical trials for non-small cell lung cancer. Asterias also strengthened and expanded its Board of Directors with the appointments of two directors who have a wealth of knowledge and experience in business and financial services, as well as the pharmaceutical industry." NYSE MKT is a fully integrated trading venue within the NYSE Euronext community and leverages the NYSE's advanced and innovative market model to offer a premier venue for listing and trading the stocks of small companies. The venue utilizes the trading, connectivity and routing technologies of the NYSE platform and offers superior price discovery, superior liquidity and reduced trading volatility. Listed companies benefit from issuer-selected Designated Market Makers (DMM) that utilize world-class NYSE trading systems to discover and improve prices, dampen volatility, add liquidity and enhance value. In addition, NYSE MKT-listed companies gain access to the brand visibility and are eligible for the issuer services enjoyed by the NYSE Euronext community. "We welcome Asterias to the NYSE MKT family of listed companies and look to having a long-term partnership with them," said Scott Cutler, Executive Vice President, Global Listings at NYSE Euronext. "Asterias will be joining other well-known biotech companies taking advantage of the NYSE's advanced and innovative market model to offer a premier value for listing and trading their stocks."