I suspect that we might hear significantly more about the company's mindset on this at the investor conference later today.
And, to be honest about this... we knew last year that management wasn't opposed to the reverse stock split idea. It was brought up I think as a 'possibility' if there was a good enough reason.
My guess is, they may be getting inquiries from people who cannot invest in the company until the pps and listing issues are resolved.
So, the only way to do this is the split or to flat out sell the company to a listed company. I'd rather have the split then be a pimple on some big Pharma's butt.
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