They have until OCT 1 to post a PR about company status and conditions otherwise they get knocked down the rabbit hole to no information status. Looks like that's where they are going. No surprise. The cash supposedly ran out in July yet they are still alive. The idea that they are just trying to extend the runway until they can raise more cash is nonsense given where the pps is. More likely either selling the company or bankruptcy .
Anyone know why they'd take the investor section down from their website?
Some are wondering why on May 5 someone bought almost 1.3 million shares. Perhaps they were considering a buyout OR these shares were bought the day the company deregistered so maybe they shorted the stock. By now they would have pocketed 200,000 profit (.36 to .16)
For a stock that now has virtually NO trading, on the 29th and 31st Aug 81k and 72k shares were traded??? with no price movement, Today the stock drops from .19 to .15 ??/ Looks like they are going private ,driving the price lower to lower the tender offer to the remaining small shareholders.
One can hope this stock can do an EBIO move. EBIO is stock mostly owned by Flagship. Hard to believe how it came back from the dead after a failed clinical study but they managed to pull it off. It has a suitor wiling to pay hundreds of millions on basically a new phase 1 study results. It looks very promising for investors there as milestone payments have already been payed and company announced it would payout future proceeds to shareholders. They don't even have a product on the market much less one that has FDA approval or even close to getting approval. That brings me to this interesting company. The mystery of all mysteries Flagship remains a large stakeholder but what is their exit strategy? The diagnostic test if anything has become more vital than ever before as study after study conclusively link higher levels of galectin-3 to countless ailments. If and when BK is removed from the risks associated with this stock, we might see brighter days ahead. Company needs to merge with an Nasdaq listed company - many shell company's out there - some under the Flagship umbrella...and need to revive the FDA application for expanded indication - and in the process revive this company? I don't think new studies will be needed. There is plenty of clinical research - that they did, were part of - and to come out recently by many others - to make their case. I cannot believe they will ignore expanding their market considering how results of endless studies came out better than anyone could have imagined. That begs the question, what is Flagship end game? Is it BK or what?