This can not be selling based on some bad news that's about to come out. The people selling would definitely get busted for insider trading!
I still believe it's likely one or two entities that are just throwing in the towel, at the bottom, at any price for some reasons specific to themselves. I still expect a sharp reversal when their selling is exhausted.
Clueless. Why don't you do a study of every company in 2013 that has issued stock to raise capital this year, then look at the stock volume and drop the week leading up to the press release, Then, get back to the board with your results which will show that 100% of those stocks dropped significantly during the week leading up to the announcemtn on large volume. But, no one knew it was coming. Nah, that's not how Wall Street works.
Hope you're right!!! There are only so many ways this can move:
1. dilute for op/ex money and shares stay around 1.5
2. partner and depending on terms who knows
3. bought out by big pharma (fda approval and penny pricing)
4. they go bankrupt, possible but unlikely.
Still holding but getting very concerned. Can we find out who is dumping shares? Doesn't seem to be those of us on the message board. Seems like one of the big 4 is dumping for some reason. What a loss they must be taking. This better reverse soon or even stubborn retail investors may do something irrational like buy more.