$NEOT - great oversold chart pattern with huge upside range if any good news hits post bad news. the company hired Oppenheimer to explore strategic alternatives. That's a looming catalyst that'll keep shorts on the fence worried about a halt and buyout. Hoping for a buy-out now and given it's a Friday, deals are often announced after the close or to start the week - hence short squeeze potential. I am just going to let it ride and see if we touch my goal of $.80's soon.


SAN DIEGO, July 10, 2017 (GLOBE NEWSWIRE) -- Neothetics, Inc. (NASDAQ:NEOT) announced today that its Board of Directors has unanimously approved plans to initiate a process to explore and review a range of strategic alternatives focusing on seeking an acquisition, business combination or partnership that will allow for it to maximize shareholder value from its remaining assets and cash resources. Neothetics has engaged Oppenheimer and Co., Inc. to act as its exclusive financial advisor to the company and Board for this process. The Company also intends to streamline its operations in order to preserve its capital and cash resources, including implementing a reduction in workforce.
"We have unanimously determined that seeking a strategic transaction gives us the best opportunity to maximize shareholder value," said Kim Kamdar, Ph.D., a member of Neothetics' Operating Committee and Board of Directors. "In addition, we continue to review all operational expenses in order to facilitate our ability to enter into a strategic transaction."
While the company is seeking a strategic transaction there can be no assurance that this strategic process will result in any such transaction.