I myself am a bag holder and my price per share was around $4.50. I lost well over a thousand dollars by Tuesday night but instead of selling like most of you idiots, I have bought double my shares so far because there is very little risk in the short term. My price per share is now in the high $3.70s so when this bounces back to $4 (which it obviously will), I will have made a few hundred instead of selling early this week and losing thousands like many of the idiots. (I almost feel bad for whoever sold this in the low $3s)
There is NO WAY in hell that Biodel will not pursue a phase 3 trial of BIOD-123 and their pipeline still has more to offer. With about $2.25 in cash, a price per share of less than double that is a HUGE bargain. The relative strength index is less than 30, also meaning huge bargain. The results were overall POSITIVE even if there was a few people who said "ouch". Aside from ouch, this is still a BETTER product than Humalog (go read the SA article for more info on why its better).
I agree there are no near term catalysts other than the announcement of the plan to go forward. This announcement alone will help the price reach at least $4. There is also no chance of dilution for the short term. I am confidently holding BIOD which is now up to 25% of my portfolio and this will not become a huge loss for me like it has for many of you. By Halloween I anticipate to be in the positive, which is thousands more than I am at now. Once it passes $4, I will see how far it can go with a stop loss at $4 just in case.
Good luck making back your money for those like me who lost!