I passed through these Bioscam one time: BPAX.
Then I learned how they move. I use to trade the cratered stocks.
Seen hundred times.
Options to be excercised, short positions to be closed.... big holders to break even.
The same tricks over and over again.
And over and over again, with HF and HFreqTraders, they make money.
Fake trades.... fake volumes.
The hardest part, is doubling down if you are already in (I'm not, I bought 6k @1.6 today).
2days/2 months and you have a 20/100% gain.
Don't listen to me.... check charts for any stock whose drug was killed. 1/10 do not bounce on the crater point.
With a -81% and 1.2x overall traded, I'd say here chances are good for a bounce.
Same old trick.
Bottomline: in 2days/2 months, 90% of "longs" are screwed because they sold for desperation or didn't double down... big traders gained.... screwed insitutional do brekeven at the worst, and PPS is 3/3.5$.
BPAX - drug killed in ph3----- down to 2.6..... then 5.1$......... 2 months (no other drug in ph3)
AEZS 2012 - drug killed in ph3----- down to 3.9....2.7.... then 5.05$......... 5 months (no other drug in ph3 at that time)
AEZS 2008 - drug killed in ph3----- down to 5.3........ then 7.3$......... 1 month (no other drug in ph3 at that time)
KERX 2012 - drug killed in ph3----- down to 1.59........ then 1.9$......... 1 month....2.1$....another month
ANTH did fail 2 ph in 3 months.... but if you consider the second one ----- - drug killed in ph3----- down to 0.67$........ then 1.6$......... 15 days (no other drug in ph3)
CBRX 2012 - drug killed in ph3----- down to 0.6........ then 1.1$......... 5 months (no other drug in ph3 at that time)
CHTP - down to 3.11..... 2.41----- then 3.9$..... 15 days... no other developments.... (now it's 0.8)
It's not true because I say so.
It is so because it's the trick big traders use to breakeven or to gain.
Again, don't listen to me.... watch the charts... it's all on line.
But I'm sure that 95% will ignore me or insult me.....well
It's a little satisfaction if I can "help" some few screwed Long..... not because I'm a Saint, but only because I remember my BPAX adventure.
ummmmm... call me dumb.. but after an 80 PERCENT drop, you're best "bet" is waiting for short to close? Do you think, just maybe, some of those shorts have already closed? If you were UP that much, would you still be trying to eeeek out a few more pennies? Todays late action was idiots like you, buying in... actually thinking it's going up. Guess again :)