[Source: CNN Money] – Capstone Therapeutics announced today that it intends to propose at its 2010 Annual Meeting of Stockholders–currently scheduled for May 21, 2010–an amendment to its Certificate of Incorporation to provide each holder of its Common Stock as of the record date of June 30, 2011 with the right, under certain circumstances, to require the Company to purchase all or a portion of such holder’s Common Stock for cash at a formula-based price on or about July 31, 2011 (the “Put Right”).
“Capstone Therapeutics ‘puts’ stockholders first,” said Jock Holliman, Executive Chairman, Capstone Therapeutics. “Throughout 2010, we will be evaluating clinical data from our AZX100 Phase 2 proof-of-concept trials in dermal and keloid scar reduction. Based on our market research data, we believe the addressable market opportunity is in excess of $1.0 billion. Should we report compelling clinical data from these double-blinded, placebo-controlled trials, the valuation upside is substantial.
For more information: Capstone Therapeutics ‘Puts’ Stockholders First