This company caught my eye about a year ago and I have had it on my watch list. Noticed it was trading in high .80's and wondered why it had jumped from the .20 - .30 range. Quickly found out they just did a one for six reverse split. Not something I would typically look at, but they will be receiving a large second payment for selling a drug ($10 million) to another company and will share 50/50 in the proceeds going forward. They appear to have cash flows to cover their current cash burn, but may need to raise additional capital to fund more development, etc. Read their last 10K. They have a lot of cancer, HIV, type drugs in their development pipeline.
Here is their website
http://www.samaritanpharma.com/investor_relations.asp to find SEC filings.
LIV is traded on AMEX. That may explain why they had to do the reverse split? Are there minimum pps amounts on AMEX?
Looking at their 3 month and 6 month charts, appears to be oversold, but the reverse split thing still scares me. Just curious what others think of this stock and potential for a quick bounce?
LIV Samaritan Pharmaceuticals
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