Baxano Surgical pullback brings attractive risk/reward, says Brean Capital Brean Capital believes the recent pullback in shares of Baxano Surgical provides a compelling risk/reward profile relative to its $4 price target. Brean thinks that if Baxano can prove itself over the next two years, it is likely to be taken out. The firm reiterates a Buy rating on the name.
Baxano Surgical announces termination of Nasdaq listing Baxano Surgical announced that it is terminating its listing on The Nasdaq Global Market as of the close of business on November 24. The company has previously received notices from Nasdaq that it has failed to maintain a minimum bid price of $1.00 per share. In light of its current financial condition, the company does not anticipate that it will be able to meet such minimums or continue to meet other Nasdaq listing standards in the future. In addition, the company has filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in order to facilitate a going concern sale of the company. Following the termination of its listing on Nasdaq, the company intends to terminate its public reporting obligations under the Exchange Act as soon as possible.