No it can't. The SPA trials must be completed first to even have a shot at another chance for approval which is at least 6 years away. The company doesn't have a product its selling or other trials going on. For example, a biotech/biopharm company such as Biomarin have products and trades at $30+. Mind you this company sells products. ARCA doesn't have anything they are selling, so how or why would ARCA trade at the $20 to $30 per share mark?