I got a response. It was about what I expected. At least I voiced my opinion/interest in extending warrant expiration.
My Message:
It appears as though the funding for the current trials will run out before the expiry date of the warrants (of which I hold quite a few). With the share price in it's current range, the idea of exercising warrants is less than appealing. Do you see any catalysts prior to the warrant expiry that might help? It seems it would be of benefit to the company if the warrants were exercised instead of being allowed to expire to zero value. Is there a mechanism for extending the expiry date on warrants? Is there some other plan in the works? Thanks for any insights. I'm a long term shareholder who held through the steep decline after cohort 2 results were released. Still holding strong and hoping for great things!
Response from GALT:
Thank you for your email. As you know there is no provision in the stock purchase warrant documents regarding extension of the exercise period. Further, the expiration of the warrants is not until March 2017. I can’t comment on whether the warrants may or may not be extended at some point.
We are working diligently to further our clinical progress and ensure the company has adequate funding to complete all current initiatives. At this point, I can’t provide further information. However, thank you for being a shareholder, and I reiterate our commitment to building shareholder value.
Best,
Jack Callicutt
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