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Zalicus AŞ Message Board

  • desertblizzard Mar 22, 2013 11:53 AM Flag


    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."

    Sentiment: Buy

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