SOLD OFF LIKE A CHEAP BOWL OF SOUP, LOL !!
The first blip of strength- and it dumped and sold-off as usual, it can't even hold $4.50 a lousy share.
And NO, being DOWN from $7 only a few months ago at $4.50 is NOT "UP", LOL !!!
The stock is DOWN and DOWN BIG from only a few months ago. It needs a 50% GAIN from where it's at right now, today - just to break even with the old basing levels of approx $7 per share, where it COLLAPSED FROM after the low grade, warrant laced, dilution secondary was sold (for $28 MILLION, NOT the oft repeated $30 million myth number)
This isn't even in a technical up-trend yet. The 200 DMA is inverted being ABOVE the 50 DMA - which is a major sign of a technical down-trend and weakness. The 50 DMA is sitting right about $4.50 right now and it hasn't been able to break above that and hold it, LOL !! It needs to break clear to the 200 DMA at $5.95 and get the 50 DMA and the 200 DMA back in the correct order with the 50 DMA above the 200 DMA to even re-establish a sustained uptrend- and do it on heavy volume and hold it for a sustained period.
NOT EVEN CLOSE YET - NO CIGAR. It got a blip - and it dumped and sold off ASAP, as it's been doing for the past several months.
A big ole "grant", for what- maybe a week's or less worth of their cash burn rate? Whoopty-doo OMG !! Hey, HOW BOUT STARTING A PHASE II trial, let alone actually FUNDING and BRINGING ONE TO A SUCCESSFUL conclusion through the FDA GAUNTLET and with the CAPITAL FUNDS they presently don't even have yet- $30 or $40 million ain't gonna get um a completed Phase II IMO, not a chance. They'll need to go back to the funding till, dilution trough before mid 2016, IF they ever even get the phase II(s) started, let alone not have them bomb out for any of 1 million possible reasons- as most phase II's are where clinical trials fail, and fail BIG TIME.
The phase I sample size wasn't even statistically large enough to prove or show much of anything- the phase 2 is magnitudes more difficult and more expensive. It took um what, FIVE YEARS to get that micro sized phase I data out, LOL?????? And now they're about ONE YEAR LATE on the original dates given to "start" the phase II? Oh yeah, this has minefields written all over it IMO.
Long shot Vegas odds gamble at this point IMO. As others have pointed out- probably good for a few flip trades and some beer money in here at this point- not much else for at least SEVERAL YEARS, if they manage to keep the gig going for that long.
My $4 and some change worth- barely cracked back to maybe a Big Mac meal level, not quite actually. Just a Big Mac and maybe a small fries.
Posts contain only my amateur opinions, personal views and thoughts. I discuss stocks as a hobby only. Always do one's own due diligence before investing.
