Richard,
re-read my post. I'm not talking about NSIX's screening FDA approval, which they have not received.
Thanks for the link.
I'm confused about the dilutive effect. So far, the directors voted to recommend to shareholders that they approve the amend mentioned above, at the shareholder meeeting 5/9/97 which hasn't yet happend. When it does, are shareholders being diluted or will they own twice as many shares at half the price (as in a split)? When the vote is placed to approve if you are going to be diluted, would you vote 'yes' on the proxy? I wouldn't. The linked document was filed on 3/19/97 and the downturn began on 3/24. Too much of a delayed reaction.
I'm guessing there might be some window dressing due to the end of the quarter. However, this kind of drop might indicate a competitor's impending superiority over CYTC. I just can't find any news. There was a presentation of PAPNET testing data on 3/26 which could be a reason too. I'm especially frustrated by the lack of info on AutoCyte, mentioned in CYTC's last prospectus. Do you have any sources?
BTW, R U going to the shareholder meeting? I might if I can rearrange a trip that day.
cs |
