I'm normally quick to panic about this sort of thing, especially when I've got a substantial part of my holdings in the impacted company (as I do in this one).
Today's news though, really isn't causing too much heartburn. I don't like the $1.20 share price, but I think it might be more relfective of the financing market than the company.
It's not uncommon for drug developers to make these sorts of deals and in my experience the share price recovers relatively quickly (see AEZS for a recent example, but ignore the implosion when their Phase 3's didn't work out).
Have a buy order in for 30k at 1 hope it gets filled. I doubled down below 70 with rnn a few months ago and that is now trading in the 1.30's I am not a day trader so I have time to wait. This is a company with good science. It will be back in the 1.30s sometime in April maybe sooner. JMHO
I agree. The drop today isn't pretty, but it's forgivable.
I learned my lesson with Ford...had a boat load that I picked up when they were trading within sight of a dollar. CEO started talking about dilution when they hit $6 and I ran....will continue to kick myself for that one.