I bought this on Friday 6/10, so a bit underwater. I have traded biotech stocks for years, usually buy for pending catalyst (ie: the run up). This one is different to me. No short term catalyst, but more than enough to set the new base in the low 2s for now. Usually, after a catalyst, a biotech will drift lower for weeks or months until next catalyst. different here. blockbuster news reported in November and again last week. the key is Mr. Oppenheimer. There are several (exciting ways) this could play out this summer (I suspect prior to August earnings call). Buyout - yes, if BP elects to gamble $100M on PH2b. given that they will save themselves potentially $900M, the risk/reward is worth it. But as big on the potential list is partnership. Mr. O is no doubt working with SPHS to locate a partner with the best possible terms. Then add potential positive write ups; analyst mention (ie: upgrade); insider purchases; large stake announcement. I see this as a very safe investment for the summer. It may drift below $2 for a minute, not much more. this company, with all the promise it offers to those suffering with the disease is a win/win @ MC $40m.