CYPB - Cypress BioScience Message Board

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Biotech / Medical : CYPB - Cypress BioScience

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To: John S. Baker who wrote (217)	5/19/1998 9:55:00 AM
From: John S. Baker	Read Replies (1) of 586

The Proxy Statement also suggests that the company is aware that its current selling price makes it ineligible to be purchased ... or in some cases, even to be recommended ... by institutions and many stock brokers. To be voted on at the Annual Meeting (June, New York City) is a proposal for a reverse split which would take the stock to a higher value, thus making it eligible for consideration by additional institutions and retail brokers. Generally, I understand that reverse splits are looked down upon by investors -- especially in the penny stock area, where a reverse split often comes after a rundown in the stock's price from $1 to .01 <wry grin>. In this case, on balance, I consider that a reverse split would be beneficial to all but the smallest shareholders (less than 100 shares originally). In addition to the positive reasons discussed in the Proxy Statement, it would make the stock margineable at most brokerages. And it might even result in the creation of options. Both of these should serve to increase awareness in CYPB. JSb

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