@Simpsonly, in my opinion, no I wouldn't do what you said you would if I were AW.
Why? Because if memory serves me right, in order to be listed on the NASDAQ market, it requires an initial minimum listing bid price of $4/share. So, if they had taken that route, then they would most likely had to perform a R/S to meet the listing standards, which is something that no investor wants to go through (not even AW himself if he does indeed own a big chunk of common shares of BIEL).
Just my opinion.