Wednesday, September 27, 2017 5:33:29 PM
Then, shareholders started bidding up the stock price, for over a month. The stock price gradually made it to the mid $5s on hope that some sort of partnership or funding was found.
The company then released news that they laid off people so they could save millions of dollars a year and focus on other potentially rewarding drugs (while at the same time still looking for a partner).
So, here's my question... What's changed between now and 1 month ago? The only change is they are going to burn up LESS cash ($6+ million per year), and they're going to be starting on a rewarding oncology pipeline. GEN-003 is still up for partnership. Nothing else has changed. This is good news misunderstood as bad news.
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