On the 10 June CC Kim stated that KBLB had received the zinc fingers from SIAL that day and would begin using them the next week.
It's known that it takes about 7 days to make genetic modifications with SIAL's ZF kits and that the kits include test materials that can not only test whether the GM's were inserted, but also test that they are in the intended location. (With other methods of GM you can't pick a location anyway, as they are all random)
Kim did not say that he would announce the results of that testing but many were expecting him to and some may have interpreted the lack of an announcement as a sign that the insertions had failed.
But there are two other possibilities(both of which may apply):
1) Kim may want to wait until they can test the silk to see if pure spider silk was produced before he makes an announcement.
2) Inherent in zinc finger technology is that in a small percentage of cases they don't work the first time and need to be "tweaked" and redone. This is due to rare cases where the particular combination of ZFs chosen by SGMO/SIALs proprietary algorithm select an additional and unintended target. (New technology, the algorithm is still being refined). Zinc fingers come in pairs of about 18 fingers each, each finger addresses to a specific nucleotide (one of the "letters" of DNA: A,C, T or G). since there a number of different zinc fingers that select for each neucleotide, they just switch out the ones that "wobbled" (selected the wrong letter) and try again. (It's more complicated than that but that's the gist of it) The second try is almost always successful.
After the GM it takes the worm about 25 to 28 days to get to the cocoon stage where the silk can be tested. BUT since these are highly valuable worms they'll probably let them go thru the full 2 months to cut their way out first. So it could be one or two months before we get the announcement.
Longs will hold anyway because at any time between now and then KBLB could announce a deal from the company currently testing the Gen1 product for inclusion in its products (I just discussed a couple of posts ago). But flippers and traders are probably putting their money somewhere else for the next month or two.
If news comes while they're out it will cost them more to get back in but traders don't care about that and don't like to hold unless they think news is imminent. JMHO
This stock is a big money winner but it will really pay to understand what's going on. In biotechnology events don't follow any set schedule and you have to be able to take delays in stride. Those who don't have a clue what's happening often panic when something didn't happen according to their often unrealistic expectations.
No one was expecting an announcement except for you and the sheep that bought your story. The stock is selling off because it was pumped and because there is no commercial deal..........nothing more, nothing less.