By now everyone should know the Reverse Split was approved. While personally I opposed it as too much, it's a fact after much arm twisting by the CEO of bigger investors who initially voted against it.
The one bit of good news from their actions is with 13 million shares outstanding, positive actions ought to really move the share price. Management had to have told major investors something meaningful to get them to change their votes, I'm not saying it was Inside Information, but now it's time for them to make things happen.
It was my belief that without the R/S, and no other news, the share price would have returned to near $.60 cents, where it was before the R/S was announced. The price has come up slightly since the vote, however I won't view it as truly even marginally successful until a $6 price is reached, and substantially higher than that if major news is announced.
GNVC has a long way to go to get back to where we were before the PACT failure was announce, it can happen, but real advancements must be announced. Hearing and Balance Drug Trials are certainly an area where such news can come from, likewise a TNFerade partnership. The company has little control over when Novartis will be ready for trials, they can however partner TNFerade is someone's interested, but no doubt they must settle for terms they'd previously rejected.
Management needs to forget what they once might have had for TNFerade, any partnership right now is better than having it sitting on the shelf forever.
My father in law once owned many mining claims, I've seen assays that showed rich gold and other mineral deposits. Unfortunately he didn't have the health to work the claims, and he wouldn't trust others to do so. I tried to point out that if someone was supposed to split equally worked the claims and took out 100 ounces and only gave him one, that's one more then he currently had. GNVC need to not make the same mistake as my father in law, when he passed away he'd not taken anything out of all those claims.
I don't care how poor the terms, if TNFerade is partnered and trials advance, GNVC shares cannot help but move up dramatically. $10, which would have been $1 before the R/S, is certainly the least we should see. If the terms available to investors look better then most felt were achievable, a return to highs seen in the past two years is possible, that now would equate to over $30. I would hope we'd be at least somewhere in between $10 and $30. The biggest thing a partnership does is reestablish credibility, regardless of the terms, for TNFerade and the company as a whole.
Gary |
