Cistron Biotechnology(CIST)$.30 Message Board

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Biotech / Medical : Cistron Biotechnology(CIST)$.30

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To: Biomaven who wrote (1647)	11/9/1998 7:56:00 PM
From: rkrw	Read Replies (1) of 2742

Actually a 1 for 15 won't quite do it, assuming todays closing bid price of 23 cents. I see your point though, as the float would have to be 1M shares with a $4 bid price. They also need a $5M market value of the public float for listing. Note that those are requirements for a NASD Small Cap listing. You won't find many institutions willing to touch any stock with a 1M share float and a market valuation of roughly $5M. If you are correct that institutions would be willing to take stakes, the result would be even less liquidity. Todays spread is 3 cents, or 13%, which would be the equivalent of roughly $1.75 x $2.00. Maybe Cist can use that $300,000 in annual funding from Rhone Poulenc and come up with some meaningful data that will set the stock aflame. I take it you and Dr DeCastro believe a primary reason for the shares discount to cash value lies in where it trades. My personal view is that fair value lies somewhere around cash on hand and a listing is inconsequential for now. I also see no reason why Cist wouldn't follow the norm and selloff upon a reverse split.

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