You can thank your fellow stockholders for this drop. Once again the lack of an investor and the overwhelming presence of traders, is driving the stock price down. It didn't move 50% in one second so the traders sell the stock down. Management is making it no better with their silence regarding the logic they used to ignor a merger and how they could have presented Phase 1 information that did not support going forward with Phase 2 in the FDA opinion as of right now. It is very interesting the FDA would stop a Phase 2 for this drug .
You're welcome. And thanks to the folks who are letting go of long shares for too cheap, as well as the MMs and shorts painting the tape to induce that behavior in violation of a completely feckless SEC regulation. "Management", as you call them, are probably still a little miffed at us "stockholders" for favoring 10% holder Prescott's druthers over those of 12% holder MPM. I would call them both "investors", since they both have to file after they sell (we have yet to see said filings), but others may quibble about that characterization. My rebuys down here will prove a stupid move if the next words from the Judge are not some new spin on a 50-50 Arestvyr split, but I'm willing to take that chance at this box-out-the-shorts-on-the-rebound price. "Be greedy when others are fearful" and all that.