WronGGG kwestshun. The korrect kwerry is:
Why is this SCAM still trading?
The bullshit cover story for this SCAM just gott blown away for the illiterati. The noncognoscenti bleeved a boolsheet cover story that this pennyscam wuz gonna get a tropical disease priority reveiew voucher if benznidazole was the first orphan tropical disease drug approved, even though there were several much better candidates in the approval pipeline and KBIO/HGEN had effectively NO CHANCE (well, about as much of a chance as John McCain has of winning the gold medals in the men's marathon AND 100 meter dash in the 2020 Summer Olympics) of getting the voucher (which could then be sold to a Pharma for $$$).
So one of the many other companies in the approval horserace for the indication finally crossed the finish line this week, ruining the boolsheet cover story of KBIO/HGEN.
So now KBIO/HGEN has been unmasked as having ZERO value in non-case assets: benznidazole is no longer useful as a prop to sell pennyvestors on the boolsheet story anymore. The other MAb crapola the company has FAILED repeatedly in the prior clinical trials and was left in the pre-BK KBIO company which was valued - rightly - at zero and was unfinanceable - because the MAbs are such worthless sheet that nobody would fund some new, stupid trials for some new. goofy indication - and thus there is no other story to sell to pennyvestors as a totem (or prop, if you will).
KBIO/HGEN is worth exactly ZERO, because whatever cash the company has will go to pay lease obligations, other CONtractual obligations, and insider salaries and benefits until all the munny is G-O-N-E.
PLUS, there is gonna be a sheet-ton of new shares printed and DUMPED to pay existing debtholders.
It's as ugly as it getts, even in the pennyscams.
Fair value of HGEN is 0.000000 - and will soon approach that level, as the additional shares are printed and flood into the market to harvest whatever can still be wrung from the ill-informed, noncognoscenti penny players.
Between noobies and those who repeatedly throw munny into obvious pennyscams, there is always a fertile herd of future victims for the insiders and debtholders to skin, all the way down to No Bid and zero volume.
That's life in the pennies. Crooks taking munny from novices and repeat pennyvestors until they are ~OUTT of munny to throw at the scam.
