You're right, that's why it gained a penny the day after the Investor Meeting which talked all about the science. BTW - most other Biotechs had a huge BREXIT bounce today.
Prolly come down to them realizing at some point they need to partner or sell. Prolly realized it when the AGM failed to authorize a reverse split, but they were hoping they had other options to preserve the status quo. Now they flail around trying rapid fire PR's and Investor Conferences to get the share price up. Come the end of year and their hand will be forced unless they pull a rabbit outta the hat, which of course is always a log shot possibility.
BTW - not sure why Management called this an "Investor Event", they failed to address any of what is holding the stock back (hint: It's not the Science). They should have called it a "Scientific Event" or "Investigator Event" The talk was all about the science and nothing about what it means to be an Investor, the challenges an Investor faces and what Management plans to do to build shareholder trust and value ....
Sure the drug has huge potential sales and seems to work in Phase I and II to date, but here's why it's worthless in the short term;
- Trading outta compliance, means has to reverse split in the near term
- Cash burning fast and no way to finance when it's outta compliance
- No partners to date on Phase II / III - not even GOG who funded Phase II
- Any funding is highly dilutional at these levels
- Run out of milestones to drive up share price (Investor Conference was last hope)
- Efficacy data not out for full year (July 2017 and partnership even later)
- Shorts have obvious full control while the volumes are low and they want to short it into the ground or finance at half these levels
- Management overestimated the stocks ability to rebound
- Drug had been relegated to second or third line salvage "cocktail" status, lost mono or dual combo therapy indication potentials
- Plenty of other competitors coming to market including advanced derivatives of CA4P
- Speculation driven out of stock through poor execution
- Trials advancing at a snails pace, business development non existent
- Management has ignored shareholder needs too long and now are showing desperation to catch up but "too little. too late"
Like I said once a reverse split, financing and partnership takes place and compliance is regained the and only the will this stock have any real tangible value, until then it's just a black hole for cash ...
My average was just over $1.30, I think $1.31 or $1.33?? Can't remember, trying to block that nightmare thought from my conscious mind
Can't remember was the stock trading at or below cash when Schweity came on board? Maybe the value was lost on Dai's watch? Pedigree preserved.
Somehow I get the sense that if they had done the same Investor Conference 6-8 months ago when we were trading at $1.50, the cash was stronger and the markets were healthier it would have been way more impactful. Maybe things just weren't finalized with FOCUS at that point? The sense of urgency often comes only when the chips are down not when they are full stacking?
Not sure what they can do for an encore, certainly pulled out all the stops on today's program. If it doesn't move the stock in the morning nothing will! Except of course a partner or buyout next July when they get an efficacy readout!!! Yehawww!