I sold more than a 100K shares today. I just have a couple of thousands shares left that I plan to sell once the trial results are out. I don't like the tone of this reverse split going on. I rarely see a habitual reverse split addict biotech company that suceed. Look at CTIC and the now bankrupt GNTA they all went nowhere. This will follow the same pattern.
Phase 1 data for safety is coming out in the next 2 weeks. A recent article in Seeking Alpha proclaiming La Jolla to be a potential buyout suitor for Abbott I just don't know why you would sell now. Phase II trials expected to begin within 3 months if Phase I data looks good. Then partnership becomes real possibility. Too much upside potential to get out at this low a price.
12 Billion authorized shares is what scaring me, that's what perplexes me not the Galactin 3 science. Bad execution in my opinion. It's so easy to flood and dilute the market with that kind of authorized shares. That's what made GNTA to fail since they habitually reversed split losing investors confidence.