By VFC’s Stock House
Epicept Corp. (NASDAQ:EPCT) announced during the early hours on Tuesday that it had received a positive panel decision for continued listing on the NASDAQ board.
The positive decision will keep EPCT able to trade on the Nasdaq until September, at which time consideration will be given to the listing guidelines, which Epicept will meet if the stock closes for $1.00 or more for 10 consecutive trading days.
According to a press release issued by the company, the Nasdaq’s decision was based on the company’s cash position and pending events that may be able to push the share price higher.
That said, counting on pending developments to lift the share price might be a bold strategy.
While the potential of the Epicept pipeline is starting to show its face, it would take a pretty significant development to increase the share price from sixty cents to a buck – and sustain it. Maybe some up-front cash for an AmiKet deal might be able to do it – emphasize MIGHT – but this could just be a delay of the inevitable, which would be another reverse split.
I like the potential of this company over the long term, but keep an eye on pending developments.
Positive pipeline news could spark a run, but news of a reverse split would take some market cap away, although probably only temporarily.
Disclosure: Long EPCT
VFC’s Stock House offers investing opinions, insight and ideas on a variety of different stocks, options and ETF’s, as well as commenting on news that effects the market.
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