"I can not figure out what the move to the American Exchange does for INSV. Of all things to spend time on.....Any ideas ?"
Spoke with Mike Baer a couple of times this week. To begin with, he's not forecasting a timetable for any deal announcements so I don't know where Mike Murphy is getting his estimates. Could be from Kumar I suppose. The only thing Baer would say is to reiterate that one or more were in the works.
As for the move to the AMEX, it's pretty much an attempt to get a little ink I think. The company remains nearly invisible to most investors.
Neither First Boston nor Hambrecht & Quist, Insites bankers, have seen fit to publish any analysis of the company. Actually, H&Q did put out a few papers, but it has done nothing in over a year. As far as I know, First Boston has never published anything, although they did some research work when they placed Insites secondary last year. Both firms have told Insite that the company's market cap is too small to justify the effort.
The timing is certainly curious with the NASDAQ and AMEX merging anyway. But Baer reiterated the point made in the news release that he figures that moving to the AMEX will benefit investors, reducing the chances of getting gouged by the MMs, at least until the exchange merger is completed, probably a year from now.
One last point, Phase II trials for ISV 205 should start within the next 30 days. Should be completed by the end of the year. If all goes well, ISV 205 could be a major product in a few years.
Bob
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