I didn't get my fill. Probably the MM's are spitting shares at each other. We'll see if I can get more today.
"First, by reducing the number of shares outstanding, and thereby increasing the number of authorized shares of stock available for issuance, the company could implement financing and other strategic activities in the future, which it may opt to do to further advance its clinical and preclinical programs. "
In other words, we want to do a RS so we can dilute some more in the future. Nice.
They will do the RS to eliminate the possibility of getting a delisting notice again. Count on it. It will happen.
They did not have to go through a reverse split IF they don't want to. They are trading in AMEX now, not Nasdaq. AMEX does not have the $1 minimum requirements.
i'm thinking just a favorable response from the Needham conference. You have to remember that it was trading way below cash value.
I sold all my 25k shares because of that possibility. I'm sure the stock will have a selling pressure after the RS. I will re-enter after the down drift. Good luck.
...and no debts. This is a low hanging fruit folks. Can't get any better than this!
Disclosure: Long 39.4 K shares.
As a matter of fact I did. Holding 25K shares so far. I have time. They can't keep this down forever. Carcinoid Phase 3 read out is just around the corner.