Even DEAD CATS bounce once in a while-
It just BARELY broke back above it's FIVE YEAR LOW of 4 CENTS (aka $4 bucks today, split adjusted) and it took a day when the Nasdaq was up a screaming 100 plus points.
Nothing else to see here IMO. Just the overall markets and beaten down bio-techs taking a little bounce. Give it a 500 point down day on the DOW, which we're gonna be seeing a lot more of- and this will be right back down to sub $4 IMO, easy.
NO TRIAL complete until MAY 2019 per the updated clinical trials site today- and THAT means a LOT OF DILUTION and a LOT OF YEARS to come before they have even a remote shot or chance at an FDA approved product and ONE DIME of sales- if they even manage to successfully complete the slow moving phase II (singular) they have barely started now- almost ONE YEAR LATER than originally claimed.
Meanwhile, NO Q-3 ole JV as was touted and the CASH IS BURNING OFF THE BALANCE SHEET BY THE DAY, BY THE HOUR, literally.
A big ole whoop today IMO. A little bounce in the bio-techs, nothing more. It's barely off the 2010 LOWS of $4 bucks, split adjusted. Simple as that.
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.