Speculative biotech with PR re patent allowance yesterday. Big vol. and price jump for a sub-penny -- following a new low several technical indicators turned positive. At least one penny pumper appeared. Management, dilution and litigation antics -- a three ring circus.
Too bad: the patents could lead to important breakthroughs for Alzheimers and other neurologic diseases.
Update: the LWLG breakout proved to be a fakeout for this cycle, but it's in a better place to buy when around 90 cents.
Congrats to those who sold LXRX for a nice profit! Two development-stage biotechs you might consider for your redeployment of funds are ADXS and SNGX.
If you look at high tech or resource stocks that have been weak for an extended period of time add LWLG, UURAF, and WLCDF to your watch list. Technicals aside, they have other reasons for potential gains.
You can do necessary DD on their websites (leadership, SEC filings, news, etc.) and perhaps YMB or (especially LWLG) IHUB MB. If you're a LT investor like me, these spec stocks need 2-3 years for a big payoff -- maybe more. I've been holding most of them for over two years already -- a tough climate for FDA approvals and raising capital.
The company PR on August 28, 2013, contained an update. "The Bureau of Land Management is currently on schedule to complete an Environmental Assessment of the project to support the issuance of a mining permit that is expected in Q1, 2014." Remember these permits have public review and response times before final approval.
Previously we expected the BLM decision to be available by December 2013. Some minor slippage here but nothing to worry about. It may explain why the share price has flat-lined for months--BLM approval is a binary event.
For many developing companies this slippage is not unusual. Delays try our patience, yet the risk/reward now favors current shareholders. However, let's get above $.25 and up to $.50 before we think about the $4-$5 range. There must be contracts / partnerships, revenues, and profits before the big bucks.