Not saying it couldn't but Nasdaq listing requirement has been met. Doesn't this stock take a breather?
Nope... prove to me it's worth buying more. The market is up 650 points today and we can't even stay flat with a Phase III drug and all the hoopla? Come on man... it's been a slow drip of death spiral for two months now.
We would be if management had any regard for it's shareholders and had never signed a shareholder death spiral deal.
I own 20K but i'm not feeding it anymore as I've yet to see any bottom. You know they will do a r/s after the dilution is finished.
Also 95% of bio's fail Phase III so add up the odd's for and against and just wait another month and another .10 cent drop before feeding it anymore.
death spiral financing is chocolate cake to shorts... they know the price will continually drop with the dilution so why not jump on the short bus and add even more pressure to the downside. It's a no brainer.
management raised the cash through death spiral financing which was a disaster for shareholders.