This has happened before and will happen again. The stock will now slowly climb back up until the next news. The only thing that will give it a real boost and maybe cause that short squeeze everyone is yelling for are the following:
1) Actual news that exceeds expectations (ENCHANT?)
2) Partnership announcement
3) Takeover by big investor
4) FDA approval (The home run!)
eyegeewhiz, I sold off 1/3 of my shares this morning and may lighten up more. You are on target about Enchant1 as it is now the price driver for SNTA. Kovener could also step up once again and buy more, but that isn't an investment strategy in my book.
My post from June (stock was around 4)
"Here's what's going to happen. This thing will begin a slow climb, although not as high as before (around 6) Then, big catalyst at end of year will either make it soar or crash. That's it, the rest of the nonsense here is sound and fury, signifying nothing."
FDA approval? Really? The general course of action is a run up to the approval decision. As for your other points, they are catalysts. But the shares are held at an artificially low valuation, and only by sheer shorting. And this can and will come undone at any moment.