in regards to a reverse split, may not be a big deal
San Francisco Business News:
Cytokinetics asked its shareholders to approve a possible reverse stock split at the company's annual meeting May 22.
The South San Francisco company (NASDAQ: CYTK) gave several reasons for the proposal in its proxy card.
Cytokinetics, a drug company, is contemplating reverse splits in ratios from 2-to-1 all the way up to 6-to-1. It has too many shares outstanding, it says, which leaves it little flexibility in issuing more -- it is close to its maximum authorized number of 245 million shares.
my problem with it is that CYTK could concentrate on its science and stop acting like a fund raising institution...there are milestone payments they could reach and the need for funding be practically nil unless the CEO is going to line his pockets with all the milestone rather than plugging it back into future growth.