I went back and listened again to Justin at the February CEO BIO & Investor conference. I wanted to quote what Justin had said about the possibility of an RS. To my 'surprise' it's not in the recorded record. There is phraseology that psychologically stuck in my mind a thought that left me with the impression that an RS is out of the question because of the logic of what posed, and I quote, "Before I take any questions, I will note that since the Fall our share price has been under pressure due to a clinical study setback, and so we are actively monitoring our share price. We are acutely aware of the challenges in place for several of our shareholders, but we know what it takes to be compliant with NASDAQ, we are aware of the rules, it's a well known path. Essentially we watch our stock price and know that should it continue to stay where it is. We meet all the criteria of the NASDAQ Global Listing except for our bid price, and so should it continue to stay under a dollar as a bid price until April we will seek NASDAQ's permission to be traded on the NASDAQ capital markets which is just a slightly low tier than the Global Markets, but in all cases we are seeking to preserve our trading price on NASDAQ. It's very important to us and we have every intention to remain on NASDAQ for the foreseeable future and do whatever it takes."
The logic here that led me to believe that an RS is not coming is simple. If an RS is all that is needed to remain on the Global markets, and if this was important to them, then they wouldn't entertain permission to enter the Capital markets and simply RS and not even bother explaining this.. Additionally, and most importantly, Justin said the following:
"but in all cases we are seeking to PRESERVE our trading price on NASDAQ"
Now, like a good executive, he ended before taking questions where sadly none were asked with:
"and do whatever it takes."
Phase progression on Z944 would put this stock over a buck almost overnight methinks. Here we sit pretty much flat lined at .68 for weeks. The market in general is bubbling, yet the price is fixed and by fixed I mean in it's current range. It's obvious, or should be by now, that if the long term holders and insiders wanted out due to a Z944 failure, they would have already done so. Plenty of time has passed. If Z944 was a failure, I'm sure Justin wouldn't have stated what he did above. I'm really not worried in the least.
Besides, as Justin had stated in this conference, they are excited about Z160 prospects and are focusing their burn on progressing that drug. I'm with them on this one. Regardless of Z944, I'm putting my money on Z160 and for anyone who considers themselves an investor, now is the time to buy.
@Jim - I made note of than caveat in what I wrote. I think that's a last resort after Capital Markets, by which time I would have already been long gone and bet you would be also.
desert: I have no idea what they will do but as I said the day the published it the key words are "do what ever it takes." that includes RS as well as others.
Jim Long and calm
Sentiment: Strong Buy