What a horrific 3 weeks for Rock Creek's shares, shedding almost 50% of its value since July 10th. I'm not sure how significantly the McDonnell trial is weighing into this slide, or if JW's testimony may prompt a flood of lawsuits against RCPI, but I would guess there is a correlation with the former, and an increased likelihood of the latter.
Another factor hurting shares, for sure, is the general market sell-off, which has also been significant in the past week (as has been the RCPI capitulation). But the greatest reason for the weakness, I think, is the FDA request for more info regarding the IND. That announcement came July 11th. On July 10th, the shares 63 cents. The stock has declined steadily since then.
Therefore, if the IND is eventually approved, which I believe is most certainly the case, I think the stock can easily jump to pre-July 11th levels.
Unfortunately, I bought more at .49 (as I said I would after the July 11th announcement, if it dropped 20%). I plan on buying additional shares under 40 cents early next week, and would like to sell the majority of those cheaper shares for a (hopefully) quick double or so, once the IND is (hopefully) allowed to proceed.
Ps. I'm encouraged by the announcement/progress on the European clinical trials. Definitely gives us more shots on goal.
