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 Company: Rx Communications Group, LLC, New York, NY
Company Description: Rx Communications is a financial communications firm specializing in the life science and healthcare industries. Rx provides investor relations, media relations and corporate communications counsel to private and public companies, worldwide. The firm designs, implements and manages full-service programs, as well as transaction-oriented assignments.
Nomination Category: Corporate Communications, Investor Relations, & Public Relations Categories
Nomination Sub Category: Best Investor Relations Program
Nomination Title: NexMed, Inc.'s Investor Relations Program
- Tell the story about this nominated investor relations program since January 1 2007 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
NexMed, Inc. (Nasdaq:NEXM) is a micro-cap, specialty pharmaceutical company
based in East Windsor, NJ. When Rx Communications Group (Rx) began working with
NexMed in May 2006, the stock price had been languishing as the Company missed
milestones and the investment community doubted leadership. Clinical programs
stalled. The stock hit $0.47 cents in May of 2006. In mid-2007, NexMed
announced the appointment of a new Chief Executive Officer.
From January 2007 through the present, Rx Communications Group has served as
the chief investor relations contact for NexMed, working aggressively to
improve communications and increase the Company’s profile on the Street as
management cut expenses, re-focused its strategy and continued to turn the
Company around.
In late 2006, with the stock at about $0.48, NexMed had received notification
of a possible delisting from Nasdaq. At that point, the Company agreed, with
Rx’s guidance, to institute a more proactive investor outreach program. With
Rx’s help, NexMed went on the road in order to tell the story and spur interest
in the stock. The program was successful in helping to push the stock to over
$1.00 per share, and NexMed was notified in February 2007 that it has
demonstrated full compliance with the $1.00 minimum closing bid price
requirement and all other requirements necessary for continued listing on
Nasdaq.
Throughout 2007 and continuing to the present, Rx arranged approximately 78
one-on-one meetings for management, ensuring continual dialogue with current
shareholders, introductions to potential new shareholders, including one fund
which participated in a private financing, and follow-up meetings with
interested fund managers, sell-side analysts and investment bankers. This
tenacity culminated in a number of investment banking firms offering to conduct
non-deal road shows for NexMed, including FTN Midwest and Collins Stewart. Rx
was also able to secure presentation opportunities for NexMed management at the
following investment banking conferences: the FTN Midwest 2007 Healthcare
Conference, the CE Unterberg Growth Conference, ThinkEquity’s ThinkClinic (A
Healthcare and Life Sciences Symposium), Morgan Stanley’s Healthcare OTC
Corporate Access Day, and the Roth Capital OC Growth Conference. These
opportunities served as a positive addition to the Company’s ongoing investor
relations outreach, allowing management to meet other key fund managers in
conference-related one-on-ones.
Recently, an Oppenheimer analyst initiated coverage on NexMed, a major coup for
the company and a reflection of Rx’s efforts, as the firm initiated the
relationship back in February of 2007. Until this time, NexMed had only had one
sell-side analyst following the Company.
During the course of Rx’s relationship with NexMed, the stock price has moved
from a low of $0.48 (May 2006) to a high of $2.10 in June 2007, to its current
level of about $1.40. Based on 82.9 million shares outstanding, Rx has helped
increase the Company’s market value by over $76 million in this time period.
- List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
http://www.nexmed.com/aboutUs/pressRel.php
http://www.nexmed.com/aboutUs/newsEvents.php
http://finance.yahoo.com/q/hp?s=NEXM&a=04&b=1&c=2006&d=02&e=19&f=2008&g=m
http://finance.yahoo.com/q/ud?s=NEXM
- Provide a brief (up to 100 words) biography about the leader(s) of the team that carried out this nominated investor relations program:
Paula Schwartz. Vice President Investor Relations, is team leader for NexMed.
Paula Schwartz has 17 years of investor relations experience. Prior to joining
Rx Communications, Paula was a Partner at The Financial Relations Board (now
FRB/Weber Shandwick), where she represented companies in both the pre-IPO
stage, as well as in the after-market. Before that, Paula was Vice President of
investor relations at ECOM Consultants. She began her career in investor
relations KCS&A Public Relations. Paula holds a BA in Economics from The
University of Connecticut and is the co-author of two children’s books, “A Leaf
Named Bud,” published by Rizzoli International Publications and “All Year
Round,” from Scholastic Press.
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