You sound like a recent investor. The areas you outlined (e.g., pipeline and market cap) are why many of invested in this Company. Over time, it has become rather obvious that the problem is management. We have seen the Board's reaction to any challenge to Raj. The trips and perks continue, and each time he speaks, we lose money. While I still hope you are correct, at a minimum, shareholders' gains will be significantly reduced as long as the status quo is maintained.
Positive news will be viewed by the market with caution at best. If SPPI has a problem with the FDA of any significance, we will all lose our shorts in spite of the remaining pipeline. A significant approval will result in a rise that is lower than it should be and short-lived as too many long-term investors bail (breaking even or taking small profits)due to the past behavior of the stock which I believe is attributable to management greed supported by a weak Board. JMHO