Savant,
I wrote the company regarding their failure to host a webcast to discuss quarterly results, and more importantly present investor with their plans for defending their Nasdaq listing. I indicated that any discussion at this time to do another reverse split would be devastating to the stock price and unnecessary given they should easily be permitted a 6 months extension if needed.
They replied thanking me for my input and indicating that previously they've only held webcasts for annual disclosures, but they'd consider my suggestion in the future.
I believe the market overreacted to the private placement of stock at $.91+ which certainly showed that at least the three investors who bought the share felt the stock worth far more than the current price. No one likes dilution, but this was one of the better offerings I've seen in that both stock and warrants cost the buyers over the current price at the time the offering concluded.
Any one of several things the company is working on could rally the stock well over $1. Of course everyone is concentrating on the hearing trial, but positive news on RSV, Malaria, FMD, or BioThera's Trials could be all that's needed. The BioThera drugs are of particular interest to me as they're being developed at City of Hope, where I'm being treated. In fact, the CEO of the company is also the lead clinician for the trial at COH. I really never knew how many big name drugs, like Herceptin, had their genesis at COH. My Dr. there has been very involved in T-cell therapies and I've met a few of his patients who've successfully had their T-cells harvested, modified, and transfused with them. He really doesn't want to do that with me, so he's keeping me on Sprycel which greatly reduces the risk of my leukemia reoccurring.
Now that the stock placement has completed, I believe we'll see the stock price return to the $.80+ range, but believe that something more from the company is needed to push it past the $1 threshold needed for Nasdaq compliance.
Gary |
