WORCESTER, Mass., Oct. 18 /PRNewswire-FirstCall/ -- Generex Biotechnology Corporation (Nasdaq: GNBT, www.generex.com) announced today that Dr. Joseph Rubinfeld, an independent scientific advisor to the Company and a member of the Company's Scientific Advisory Board, issued the following statement in respect of the reverse stock split proposal being considered at today's special meeting of the Generex stockholders:
"Having been intimately involved in the drug development world for over 40 years, I have hands-on experience with the dilemma faced by Generex and its shareholders on the day of this important vote. Many shareholders have personal experience with a reverse split or a delisting which has helped to shape their opinion on how to vote. Still others may look to point the finger of blame at management regardless of the current management's role in arriving at this point. I believe that it is important for every shareholder at this time to carefully consider the future in casting their vote as opposed to looking in the rear view mirror. I myself am confident that Generex has the ability to become a powerful force in immunotherapeutic vaccines and delivery of metabolic drug therapies but, there is still work ahead. That work includes further clinical trials and, in time, collaboration with larger pharmaceutical companies. As we continue to do this work we will look to the capital markets and there is no doubt that our financing opportunities will be more advantageous to our current shareholder base as a NASDAQ listed company. The same holds true when negotiating with potential partners. Generex stock is at a crossroads and I believe that approving the reverse split proposal is at this time in the best interest for the company and its stockholders as in the long term it will place the company on a more solid footing and result in much less overall dilution. I urge all who have not v
|SOURCE Generex Biotechnology Corporation|
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