WORCESTER, Mass., Oct. 17 /PRNewswire-FirstCall/ -- Generex Biotechnology Corporation (Nasdaq: GNBT) (www.generex.com) announced today that Dr. Craig Eagle, 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 tomorrow's special meeting of the Generex stockholders:
"Developing new medical therapies creates value for investors and patients. Value delivery requires constantly driving the scientific research forward. Value may be lost if a program 'waits' for funding or partnership due to less and less patent protection time. If science is not moving forward, and funding is challenging, then value may decrease. Partners and Investors may not be attracted to this situation. On the other side, a company with investor support enables moving science forward independent of a partner and creates rising value and stimulates a partner to move before a competitor or before it rises too far.
A company that is able to easily support the science of its portfolio creates increasing value and is attractive to partners. The opposite may make partners wait for naturally lower values and cheaper pipelines."
Generex management believes that preserving the Company's Nasdaq listing will provide the Company with better and more flexible access to the capital funding required to quickly and effectively advance its product development pipeline and make those products more attractive to prospective partners. Management urges stockholders to vote their stock in favor of the reverse stock split proposal and, if they have voted against the proposal, to change their votes to votes in favor of the proposal.
The Board of Directors of Generex has not withdrawn, modified or qualified its unanim
|SOURCE Generex Biotechnology Corporation|
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