Other issues were discussed at this year's edition of the Epicept meeting of the shareholders, according to an early-morning press release on Monday, but the pronounced theme for the near-term future of this company is 'Reverse Split'.
The meeting was adjourned until June 27, 2011, at 10:00 a.m. EDT, given that 49% of the shares had voted in favor of the RS, but the release also states that additional 'YES to RS!' votes have come in since.
EPCT effected a reverse split a couple of years ago, as well, but pipeline updates and progress on the Ceplene front were too few and far between to keep the share price propped up enough to make another RS unnecessary.
Since the last half of 2010, however, the company has made solid progress towards ensuring its future as a valid player in a few markets. By mid-2012, the company could even be drawing in enough revenue from Ceplene sales to become noticed.
Another potential driver for income would be a partnership for AmiKet (formerly NP-1). Any such deal could come with an up-front payment, plus royalties on the back end, should the product become approved.
The potential of Epicept is finally becoming unleashed, but still be wary of stock offerings and - as we see now - additional reverse splits.
Worth watching.
Disclosure: Long EPCT.
