Then they have to go through Pivotal Trial Phase and Approval Phase. Translation = 5 - 7 years before possible FDA approval IMO. They have what 2 patients enrolled in the Pilot Phase? Seriously? It will take hundreds of patients before FDA approval IMO. Where's the money going to come from until then? Dilution IMO.
Actually ONVO will have millions in sales and revenues this year. It would be foolish to short ONVO at this level. The stock is clearly in an uptrend. You should go back to trading school.
Because the Scaffold is years and years away from FDA approval and it may never get FDA approval. Until FDA approval, there will no sales or revenues and more and more dilution just to pay for day to day operations. This was a penny stock for a reason. A reverse split won't change anything. It will sell off to sub $2 as the secondary offerings occur and they burn through cash with no sales or revenues for years. Short to mid term it's the perfect stock to short. Long term like 10 years plus it's a buy.
Nothing more than a manipulated penny stock trading on the OTC market.
I am not seeing what everyone is so excited about. Look at the fundamentals:
Price/Sales (ttm): 5.89
Price/Book (mrq): 8.97
Qtrly Revenue Growth (yoy): -6.80%
Qtrly Earnings Growth (yoy): -1.00%
Operating Cash Flow (ttm): -704.28K
Levered Free Cash Flow (ttm): -1.47M
I wouldn't be surprised if they disappoint again at earnings release and it goes back to $2.50 range. Sale of property will be a non event in my opinion.