Low volume selling, compared to heavy volume buying over the past week or so. No really concern from my stand point.
Earnings will be out soon, so lets see if revenues can hold, and how well the company did this past quarter, in cutting expenses. (Cutting expenses by that predicted 25% plus, will be a big positive here, as the company progresses.)
Personally, I'm seeing way more positives than negatives, so I will add on any drops in PPS. Having a MC of $15M, for this company is very reasonable, if not quite undervaluing of the future potential heading into the new year.
OPGN has a solid management team, and with the backing of Merck to a certain extent, they are a steal in the .30 range or lower.
We are holding quite nicely above the 50DMA, and any positive news/events should continue to strengthen this base, and move us up to the next level. (Need to break that .41 on the next push.)
Only slight concern I have in the back of my head, is the need to raise more capital as we head into the beginning of 2018. Even in doing so, it's not much of a concern because the current 51M OS is quite low in regards to this industry, so I'm comfortable with an increase as OPGN heads towards profitability by late 2018.
Based on the current situation, the company had enough to fund operations through the 3rd & 4th quarters. Dependent on how well they did by reducing expenses, possibly they have enough until Feb 2018, and we will have a better idea when we see the numbers.
In regards to raising more capital, the sting of increasing the OS would be greatly reduced if Merck and Jven are the primary sources when the time comes. Not a bad position to be in, whatsoever.
Cad
