The company offers shares to raise cash and the market cuts the price in half, and shorts it like crazy as if the stock should go to zero, and now they withdraw the offering....back to $10? Now if so, that would be very funny! Some peeps should not be so greedy shorting!?!
The fact remains that they are out of cash, and the current ratio is only 1:1. Today they announced that they are only delaying the offering in the hopes of a miracle in the markets.
Bernake's house of cards is about to collapse, and the best this company may hope for is to be purchased. At the current market cap that certainly is a possibility. It would be a bitter pill to swallow selling out at this point for so few dollars.
The price drop tells you that the smart money is not yet as excited about insulin capsule as retail investors.
The stock was up 300% in the last couple months on minimal new data, mainly from the move from BB to full Nasdaq listing. A good fart could push the stock up fifty cents. Plus them Israelis are pretty good at gaming the stock market.
Anyway. they need to report more data. They just got ahead of themselves.
p.s. That was me scooping up those $5.68 shares premarket. I just jetisoned the last of them at $7.70.