Hey the volume yesterday was around 32,000 shares on NASDAQ. The market cap is just under $17MM. In other words there a a few traders playing around to make peanuts on a daily basis. I wouldn't say that these traders have inside knowledge of the immediate, intermediate or distant future of NOVOGEN. This is an extraordinary buying opportunity. For the price to drop 50% in a few short weeks based upon the failure of a pre-clinical trial drug that hasn't wasted years of research is ridiculous. Sure if this was a phase III drug and it was found to be totally ineffective or toxic, the company would be in dire straights. Millions of dollars would have been thrown away. But in this case, there is a plug and play, one drug in phase I trials and the other in Phase II. No one was investing heavily in Novogen based upon the success of Anisina. It was a single thread in a cluster of research.
So Edison predicts there is a good chance or a AUD price pf between 0.18 and 0.30. NASDAQ sees a i yr price of around $5 USD. These are predictions after the plug was pulled on Anisina. I would think they know more than the average lay investor. Thomson Reuters reportss has one analyst following NOVOGEN. As of yesterday, there is a moderate buy rating and they predict a price of $5 .
Today the price is trending up. Perhaps we have reached bottom, although until volumes start to increase significantly, pps movement is based upon the whims of some scrubs.
By the way this is an interesting site that you might be interested in monitoring. It reflects what is actually going on in clinical trials in the U.S.
https://clinicaltrials.gov/ct2/show/study/NCT02903771?term=novogen&rank=1#contacts