Agree, for the most part. I do think the ongoing dilution, no matter how necessary for BIEL's survival to date, will have a significant impact on any run up generated from positive news. It cannot help but have impact - those projections of 30,000% one day gains will be nigh impossible due to the share structure and dilution. I had a great non-penny pharma play a few years ago that ran hard on FDA approval, and even then there was significant downward pressure on the way up from profit takers, flippers, etc. That activity will be exacerbated with BIEL.
I also believe the relationship and/or benefit relative to the opioid issue is seriously overstated, but that's another discussion.....
Essentially, can BIEL manage enough dilution to remain in business until a major trigger event happens, barring a negative SEC action, and then build a profitable operating model without further need for share devaluation? Seems to be the crux of it, really. That places the case back on the FDA approval/non-approval. I don't really have an opinion on that debate, except to say the surrounding euphoria seems excessive, given the length of time BIEL has been fighting this battle. The SEC docs don't paint a pretty picture, but again I won't speculate on the outcome.
FDA or not - BIEL, with all these outside USA markets, will need to get that profitable operating model in place.....
