My back of the envelope calculations say that as long as OMER is above $4 come the end of the month, they'll be staying in the Russell 2000.
Last May's smallest R2000 member had a market cap of $101mm. The market's up about 20% since then, so a rough guess says a $120mm market cap will keep OMER in the R2000 index.
What seems apparent is that the shorters tried VERY aggressively to push OMER down so it'd be dropped from the index and funds would liquidate OMER positions, dropping the price some more, at which time they'd cover.
When I say aggressively, I mean it. As I recall, there's only about a half million OMER shares in index funds. In just two weeks, the shorters sold five times that amount, trying to hammer OMER's share price ....... and failed.
Between that failure and the off chance OMER pops some material good news, there's a possibility for a very interesting short squeeze favoring OMER longs.