Nice presentation yesterday by VP Jeff Margolis. He indicated that the capital structure and .02 cent share price will be dealt with soon, 'stay tuned', so I think that probably means a reverse split is likely in the not too distant future, which would help complete the transformation of the company.
In biotech, reverse splits can work well when there are significant events coming up which can be viewed by investors as transforming to the company's long term prospects. The Dronabinol Phase 2b results coming in Fall 2-16 is one such event, especially since it is potentially 'pivotal', ie - sufficient to file for FDA approval. The return of Ampakines to the clinic is also a big event, so these factors can create enough momentum in a bio stock so that it can maintain its share price at/near the higher level following a reverse split. It doesn't always work that way, but has the best chance when the company has some big clinical developments occurring around the time of the reverse split. Assuming there is a reverse split, the higher share price will allow more institutional type money into the stock, and correcting the bloated share count will allow future financings to fund the company.
The new team have a finance/business savvy that had been lacking in previous management. Manuso, Lippa, and Margolis have the salesmanship/promotional side covered as well, which is important in biotech. You don't want hypesters at the helm, but you definitely need some salesmanship skills. Stoll and Varney were straight shooters and science guys, but you also have to be part hustler, especially when resurrecting a busted bio company, so a somewhat different skill set.
