You are right on "no approval". But the stock has risen 83% in the year.
So I am glad I hung on to it.
API sales are so low now that similar sales growth of def. make total sales appear to grow faster. That and the fact the company is profitable even with the increased sales and regulatory costs is positive.
Even on bad days, we seem to have run low on sellers.
I suspect you are not alone. There are likely a lot of holders that have sold out. The news flow has not been good. Delays are par for the course in drug development. It always seems to take longer than people expect.
But unlike other drug companies without an approved drug, this one is not burning cash and is profitable. That is a significant difference.
If I have this one right, it will run out of sellers before they get approval and the stock will have already turned up.