I'm a long with 19k shares and severely underwater over $40k. It's in my best interest to vote "for" the reverse split rather than face a de-listing which has crippling consequences. The reverse must be such that de-listing would be warded off until Symphony etc. can get approved and brought to market, which favors a larger reversal rather than a smaller reversal. I see this as a necessary evil. Give this some thought before shooting from the hip. It's a very important consideration.
You're in la-la land, & your loss will just continue--- sorry those are facts, which you can't face. You'd be better off not doing a rev split (& not letting such news hang over it) while waiting for possible likely good news hype to affect this pos in the next 3-9 months instead, then sell on that spike. A rev split would just be a continuation of a longer term pattern for more dilution & price fall, & for you to be willing to see that as more positive scenario & willing to hold longer term until they get product to market shows how naive you are & why you really down so much in the first place.
U guys, check out ASTM in a week or 2. Later this month after it gets its first NASDAQ warning(under 1.00), just about all the bad news should be done & priced in. A friendly tip from me. It is just for a short term trade rebound. Should bottom in .40 range, maybe .30's if we're lucky... but for a short term trade an opportunity is forming. (See my other posts on ASTM).... They have one supposed good stem cell drug focus that can be a good news hype headliner in coming weeks & they just filed a stock sale, so they have fresh new cash, & that is becoming priced in, too. After earnings next week & a NASDAQ warning later, it should be about the time to find a stable price to enter for short term trade... (PS, I called CPRX @ .43, & said sell it recently @ 1.00+)
A reverse split will not solve the fundamental problems. Another option for many of us, is to sell and cut some losses. What's the difference if we go from .60 to .30, or 6.00 to 3.00. People say institutions can buy at 5 plus, but they need more of a reason to buy then a stock at 5 bucks.
I'll have something for losses and it will help me wind down my anticipated huge pile from NAVB. And with a time frame for both at 3 years, give or take, I'll recover some bounce in my gait.
I'm in the same boat as everyone else.... It is hard to keep the share price up when (1) they gave it away on the .75 offering. (the stock was at a reasonable level up to then) (2) it has been an information black out since that. No information from anyone... trial started? trial progressing? we are confident? NOTHING. Lack of information breeds this naysayer attitude and rumor mongering. (3) one would think at these levels that management would be stocking up for themselves (no pun intended). I had sent a comment at the time of the offering and never received a response. It is apparent that this is not a shareholder friendly company.
I believe the reverse split will happen(I voted no) I also think that the price will continue to slide. But I do think that everything that is being done makes this company easier to be absorbed by someone larger.
your shortsighted thinking you benefit from a reverse split here. It will feel better for about 24 hours, at most, and then you will see what that signals to the rest of the investment community, which is disaster.
Thanks for adding some intelligence to this board. I voted no R/S because I want to force them to find another way to get the pps up; i.e. get their a...$...$...es moving on this EU trial. They also have contracts with 2 other foreign companies to get symphony approved. I am bothered by the lack of news coming from HQ. I am also bothered by ex-employee postings as to the organization and lack of direction.
I would really like to attend the meeting on the 22nd.