Not a huge deal to me, since I'm long-term IGXT holder. But for the traders, NITE on level II is keeping a lid on the trading price. NITE : This is the king MM of the OTCBB. He intimides traders and other MMs use that to their advantage knowing that he scares them. That's why NITE is the shaker on most stock runs; he is the most common ax. NITE could be on the ask all the time, he could be leading a dip scaring sellers to SCHB and TDCM on the bid.
The minimum bid price requirement stems from Section 5550(a)(2) of the Nasdaq's Equity Rules guide. It clearly states: "(a) Continued Listing Requirements for Primary Equity Securities: (2) Minimum bid price of at least $1 per share."Jun 19, 2013
I got no idea when the stock performance will change. Once, I was invested in a franchise company, that the Franchiser (Sprint Telephone) was going to have to buy-out, due to legal reasons. The message board was very similar to this. People couldn't believe the stock wasn't any higher than around .50/share. Then one day, almost overnight (way after a lot of people already connected the dots), that penny stock grew into the $15/share range. I bring this up, because IGXT reminds me of this stock. I remember back then that I was constantly questioning if I did my research right, and brought it up on the message boards, ect...... It just took a while for the public to figure it out because the company wasn't a big name. My personal belief is that once IGXT is profitable, and releases a PR about being profitable, this .51/share range we are in will be moot. Yes, I wish they would release a PR about receiving a tranche from Edgemont instead of waiting to the Quarterly Report. But that really won't effect the price in the end. I can wait this investment out for a couple years.
I'm not a cheerleader, and rarely post here. And like you, I've been frustrated with the performance of the stock. However, I suggest to you to not confuse the stock performance with the business performance.
"RedHill and IntelGenx plan to submit the final required documentation next week, which should lead to marketing approval of RIZAPORT(TM) in Germany and Luxembourg. RedHill and IntelGenx will continue to work together to obtain national phase approvals in other DCP territories."
1. What is the time frame of submitting the final documentation and getting Rizaport to market in Europe?
2. Does IGXT need to partner up with a sales force in Europe similar to the "450 agreement" with Edgemont?
Thanks in advance....
Will IGXT make a PR announcement when they recieve their first milestone tranche payment? That will be the best opportunity to announce to the world that IGXT is now profitable, and attract new investors. This could be a big stock catalyst, if played right
I don't think anywhere invested in IGXT believes it won't see some great upward appreciation in the future. The bigger question is "when" will it happen, and what will be the catalyst to the movement. If you think that the catalyst happens in a year after some more FDA approvals, ect.... then you may be better off putting your money elsewhere for the short term. It may be something with the new mgmt and the M&A possibilities, but I believe that is the reason for the complacency.