Yeah, some lucky investors were lucky enough to sell at high 3, but some also got back in again later days when the stock was trading at low 3s or high 2s. Now they're holding bags again. This is all well set up manipulation, given the volatile global market conditions.
It was a well setup to trap a lot of people when the company announced the positive cl.trial result and the subsequent stock jump in early Wed morning. I think it's partially the mgmt's fault to do PR on previous day right after the mkt closed, this gave enough time for manipulators to setup a trap the next morning. However, it's not to worry about too much in long term prospect. Look at Genfit, it was trading at 1.44 /sh back in Jun 28, 2012, then it hit the max high of 69 in Feb 2015. It's down a lot today, but still trading at $30.