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Biotech / Medical : CYPB - Cypress BioScience
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To: muddphudd who wrote (235)5/21/1998 11:26:00 PM
From: John S. Baker  Read Replies (1) of 586
 
The info is in the Proxy Statement -- Form 14 on Edgar.


I do believe that this reverse split makes sense. (The rationale is hinted at in the Proxy Statement, too.) There are many institutions and brokers (sell-side) who are prohibited or discouraged from investing in or recommending stocks under a certain dollar figure ... most commonly $10, I believe. This will bring the price up to a point where these buyers and recommenders can comfortably and ethically consider CYPB.


Also, this makes it marginable (above $5 in most brokerages?). And it may even result in the creation of publicly-traded options.


All of these will serve to raise visibility of CYPB and to increase liquidity. It will not be the sleepy little black sheep bio-tech that it is now, but it should be worth a great deal more.


Hope this helps.


JSb.
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