Another possibility is that the company is planning to put out a combined press release with other news that they are waiting on. For example, recall last week that the company announced a non-binding term sheet with Alumina Partners? Perhaps they are finalizing the definitive legal docs and plan to announce the IRB along with the signing of those docs.
Your 1st thought may be the one though. It says they have not started recruiting patients yet so they may be waiting on final approval.
I agree on the cheap shares. I started collecting @ 0.07.. i am fully prepared to wait it out, just curious as to why they wouldn't announce it. I guess they are not interested in the pump reputation. They would rather wait for the full story (maybe)?
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