since most people are afraid of dilution due to potential GIA, and since GIA is non issue now, I have no reason to believe the share price will be down on the condition:
A partnership deal is near and real, which I believe AA this time judging by all the company have been doing in the last quarter and recently.
The most difficult issue in a partnership deal now is the specific terms. This is the sticky point and is the only outstanding issue I believe.
So tomorrow, the price may be down a bit but not too much (all have been factored in in reality but definitely with some psychological impact from today's release) as it is usually the case in such a similar circumstance, some ones will get lucky to pick up some cheap shares. But the trend will quickly be reserved, maybe later in the day or shortly after that.
First, they never said GIA is out. If they can't get a partner, they will GIA but will need to raise capital. If they can't do that, bankruptcy might be in the future. For everyone saying they are going the partnership route, no, all they said is the same thing they have said on every call this year, that they are in negotiations with potential partners. One of the two whopping analysts asked on the call about why it has taken almost a year to find a suitable partner. I do not think a good answer was given. That being said, I do not think Glaxo or SFE will let this company go under and I do expect they will sign a partner, on the parter's terms of course. It's NEVER good to be negotiating with someone whose money you need when the other party knows that your alternative may be bankruptcy. I think the stock is worth $3 or $4 so I added a few more after hours at $1.64.
knee jerk reaction in the morning with a slow climb back to 2 bucks. With Nov. option exp. tomorrow max pain is plus or minus a few pennies from the 2 dollar strike. The next few weeks we will need to watch the options very closely if the shorts interrupt Anido's comments the same as those that are long they will have to front run the calls. there no way with the short interest as high as it is and the tradeable float so low that they don't cause a major price move.
I give maybe the most optimistic price: three bucks at the end of tomorrow, because the three millions shorts now know the partnership deal is coming and the company needs no dilution money.
They have to cover now or later!