I read the chairman's blog to see and its not good.
1. Now they are thinking about spinning out Eltoprazine or ESS as a standalone company since each has 3 indications it could target.
Terrible Idea you breakdown your pipeline. What value will be if you move assets out of the pipeline to a company spin out.
2. NASDAQ listing is a fail " However, after completing a capital restructuring in the second quarter, conditions in the market for our common shares rapidly deteriorated in the third quarter, causing the Company to fall out of compliance with initial NASDAQ listing standards. As we move forward, a significantly reduced share float due to the capital restructuring combined with an ultra-low valuation compared to peers for each asset in our portfolio, put the company in a reasonable position where value appreciation of our common stock could potentially occur and allow us to organically regain compliance with initial NASDAQ listing standards. An important step towards a sustainable financial future has been the reduction in our ongoing burn to under $500k per month as we focus our resources primarily on ESS."
How about they should have waited to do the reverse split first until they could maintain their share price. Utter failure there as well, now NASDAQ listing is a Pipe Dream
3. In terms of Eltoprazine they are still trying to figure out the best path, and which indication to go after first
Well isn't that nice company still doesn't know which one will get to market faster. Another fail
4. In terms of Lympro company is not choosing to move forward with the opotion Agreement from Georgetown University. Read this
"With data coming up on the use of LymPro in Chronic Traumatic Encephalopathy that we recently completely enrollment for in Boston University’s DETECT study, we believe we have sufficient critical mass to make a very successful business from our current diagnostics portfolio and are now focused on the CLIA launch plans for these products. We remain on track to transact on the diagnostics division in the fourth quarter and will provide updates on this as progress is made. The Company is looking forward to the JP Morgan Healthcare Conference the week of January 11, 2016 as a key time to potentially make public announcements of definitive agreements."
More mumbo jumbo promises to get clia Launch for Lympro which still hasn't materialized.
Well there is your recap you wanted! I don't think this company is a good investment. management is clueless and they don't know what their plan is to be quite honest.
