The Ex-US sale to Ferring validates the contention that they are planning to sell the company as a soon as Vitaros is a approved in the USA. Perhaps moving Rayva along will add a couple dollars to the sale price per share,
a partner deal on Rayva might give them that extra $2M they need to get to the nasdaq equity requirement. We'll see, I hope they have some news on the FDA OPQ on Monday.
Maybe. If the ultimate plan is to sell the company, how would - NASDAQ listing - be the reason that forces them to sell half the assets? You can still sell a company that is listed on the pink sheets. Granted - the majority of the shareholders would be pissed if they allowed the company to get delisted ( I would certainly have been one of them ). But honestly, over the years, how much wealth has been squandered by the different managements?
Who remembers Granisol? Who remembers Totect? Who remembers the room temperature device that was going to unlock regulatory milestones from current agreements ( up until March 8, 2017 ). Who remembers launch milestones that were in place ( up until March 8, 2017 )?
In other words, if Vitaros U.S. / RayVa is worth any company paying $50 m - $80 m for Apricus ( as in a buyout of the entire company ) how would it's listing change that?
The only way that the value of the company changes, in my opinion, is if the company that is buying the assets is a privately held company wishing to become publically traded and they merge with Apricus and create a whole new publically traded company. An example of this is when BioQuant merged with Nexmed.
So - at least to me - there was no need to sell half the assets ( which were bringing revenues to the company ) to maintain listing, if the end game is a sale of the company anyways.
Keep in mind, that those $2 m - $3 m would be needed to obtain the $2.5 m shareholder equity by the May due date. But any cash burn / expenses takes from that amount. In other words, Apricus needs more. Enough to get it to March 2018. Also remember that $1.5 m is owed to Allergan through a regulatory milestone.
I am going to be 100% honest here and share my thoughts. They want to maintain NASDAQ listing so they can dilute the shareholders further. Straight and simple. A Pink sheet listing would not allow them to get deals through with ease. Whoever buys the shares would want to be able to have liquidity.
It has very little to do with the possibility of the company being sold. It can be sold for around the same amount on both scenarios. If Vitaros / RayVa commands a $100 m price tag for the company, it's the same if they are listed or not listed.
