I can not for the life of me understand why this would have fallen so much today. What did it announce that was not already in the market.
These comments about "going concern" are absolutely rubbish. The market is well aware of the need for the company to continue to require funds while it progressess through its trials. And if it reaches an agreement with a partner (which would be very likely over the coming quarters) then it will extend the runway. Not withstanding a $90M funding facility. It can again tap the market if they receive positive news along the way as well. On a price spike for example.
The decline from $3.44 has been swift (much faster than the increase) and is a combination of traders, profit takers and the usual group of shorters that have jumped on the bandwagon. They are hedging their bets that news flow will be somewhat scarce until the 3rd quarter. Obviously positive news can come from any direction well before the 3rd Quarter and catch them off guard. Then watch them cover and the SP blast off again. The shorters have seen it decline from $3.44 to current levels. I wonder at what price level they will begin to cover at. Positive News from the US regarding FDA approvals could also catch them off guard.
At this stage I will continue to accumulate.
Regards
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