That question is better directed to the company than myself, but upon the last inquiry that I read, there were no plans to reverse split as of the end of September. I called David Haen investor relations and he stated that until they get the mature data on the phase 3 sts study, they won't make any business decisions regarding share structure. Consistent with this he said that the analyst at HC Wainright that issued the table-pounding buy on cytr at 3 dollars with a 10 dollar target has not adjusted his or her long term target of 10 dollars until the mature data is analyzed by FDA as well.
The bear raid that is ongoing on this stock is a deep-pocketed one to emply the likes of Adam Feuerstein and the Street marketing firms to falsely claim that aldoxorubicin is a failure. No reverse split is needed to manipulate the price. These things often happen when a big pharma is trying to knock the price down so that a cheap buyout can be negotiated... as was the case with ocat. But sometimes the management holds tight and gets the job done for a nice buyout like with cpxx. Both recent examples.
I am considering adding a significant amount but I doubt it reaches levels low enough to trigger my buys. I think the FDA will recommend advanced approval pathway for aloxorubicin upon completion of the phase 3 within the next couple of months (if it isn't done already). I couldnt' get any straight answers out of Haen he just babbled his own directions. But he did say that the FDA meeting was already scheduled back in July for some date unanswered to me indicating the plan is spelled out in the SPA.
Won't surprise me to wake up and read about our buyout some morning. But i'm hoping for a little fun on the upswing first, just out of sheer boredom. In the event they can knock it down some more, its a steal... literally. The market here is billions per year. And everyone knows it.
