Well, maybe not every investor. Kirk hasn't figured it out yet. And for that matter, neither has Roche.
Do yourself a favor and cover here. There is too much potential good news coming up. Your risk/reward ratio to the downside doesn't look so good.
It is doubtful that they will need more cash until at least the 2nd or 3rd quarter of 2013, and there are a half a dozen catalysts before then. HALO hasn't been as low as $2 in almost 7 years. The rHuPH20 platform would have to fail before the price would drop that low.