Long story...Tauropharm is a company currently selling a product that is very similar to crmd's and apparently infringing on crmd's IP. How/why they started selling it is a long story. Then there's this other Swiss company who has gone after Tauropharm in the past and lost, and who is now going after crmd. I think most people agree, crmd has the high ground over both Tauropharm and the Swiss company, but how it all plays out remains to be seen. I think there are many ways it could go down...most would be positive for crmd:
1) crmd teams up with the Swiss to shut down Tauropharm and collect damages.
2) crmd teams up with Tauropharm (instant revenue). This would likely only happen if the Swiss challenge is without merit.
3) crmd teams up with a third party (or 4th party I guess I should say) and competes with or shuts down Tauropharm
The hearing with the Swiss is Wednesday so it should be over by the time the market opens in the US. Not sure though when we will know the outcome.
A lot of stocks took a beating after the election. Don't think it's CRMD specific. After the last news, CRMD stock prices more than tripled on news from .30 to 1.24. Than the election happened and there was a major sell off of all stocks for several days. That is when CRMD crashed. However, it has still remained above (lowest was still approx. above .20 of price prior to news) the .30 it was selling at prior to the news of approval. I think this is an excellent investment either long-term or short. Positive news should be coming out within the next 3-4 weeks which should cause the price to at least double or triple as it did on the last news.
I do not think the drug is actually in the $300M range. $50M, yes almost certainly. A solid deal with big pharma and maybe $100M or more (but obviously CRMD would only get a cut). However, even with only $50M, it's easy to justify a market cap of much much more than ~$5M!
In a nutshell inept management. The company was being run by John Houghton who was originally slated to run marketing but got promoted to CEO role when former CEO took a new job. They screwed up much of the paperwork and probably cost us a year. As cash ran dry folks thought this was a goner. New folks are currently running operations. There is an annual shareholders meeting in NJ @ company HQ if you are local.