ONCY has been conductlng experiments or clinical trials for nearly 15 years. I think investors are bored with waiting and ONCY management and will only buy on the FDA approved for use news, Otherwise just a low level seesaw from one up to one down. No assets, no income, no product, no value.
OMG, that's an easy question to answer. It's because manipulators can make a lot of money this way.
It was no coincidence that AF at The Street (partially owned by Jim Cramer) came out with a slam on ONCY that distorted ONCY's history with clinical trials. It was calculated and for a purpose.
If you have never seen this video, you need to.. absolutely you need to see it. Go to youtube and find this video:
If that doesn't work, search for "Jim Cramer Explains How The Stock Market Is Manipulated"
Any time Cramer says RIMM or AAPL, think ONCY. It is actually easier to manipulate a small cap biotech, not only because of the size of the float, but also because there are many players in ONCY who have very little idea of what really happens in a clinical trial, and have no reason to discard what AF has to say.
It has been a long time since I posted here. I owned ONCY about 5 years ago and sold off because the biggest problem is management. The same incompetent CEO is still in charge. Sure a drug can move forward and win approval with an incompetent CEO, but it sure as hell takes longer and costs a lot more money to the detriment of the shareholders. The latest example is running yet another small uncontrolled trial, this time in NSCLC.
By the way, when I sold off my ONCY and I stated on this board at that time that it was because ONXX was a far better investment. I have done quite well in ONXX since. As an alternative or even in addition to ONCY, I suggest you take look at SNTA. I have been buying SNTA in the past year or two and am doing well, and expect a nice boost this year as well.
they keep pushing back the time frame..shorts will sell aggressively when there is no news coming..
the secondary was sold on phase two study..still 6 months away from approval..
Especially with biotech stock, it is not going to be a smooth ride at all when data is out. Price is over the places. ONCY was traded in premarket at 5.5 a few weeks back. Now it is in 3 range.
I just add couple thousand shares here. Good luck
The company just bargain basement sold 8 million sahres at a 20% discount and optioned another million at least a 20% discount. All these shares sold out to hedge funds and what did the hedge funds do, they began shorting their 9 million shares, what does shorting shorting shares accomplish ... lower price. You are inveting and they are gambling. So far they are winning and will continue until they have shorte all the shares. Just my humble opinion of course.
I agree! It is sad for a great company with such promising cancer treatment protocols in their pipeline. Like you mentioned on another thread, I will be buying back in in the next week or two when the share price is in the $2.70 range and then hold through runup to the Phase III results.