Why do we have good news and yet no share price appreciation?
Some POSSIBLE reasons:
1) There are some big players working the MMs to establish/grow a position on the cheap,
2) The "momentous December" PR set a level of expectation that has yet to be met,
3) The top line data for Brilacidin was very good, but here we are 7 months later and still two months from the Phase 3 meeting with the FDA; a meeting that we were expecting to occur last December,
4) Frustration with: a) The slow pace of the Kevetrin trial at DF, b) The fact that it's been months since approval and the B-OM trial still has not started, and c) The fact that it's been months since approval and the Prurisol trial still has not started.
5) Up-listing to NASDAQ has been mentioned repeatedly over the past year so one would think that the company was well prepared when the application was finally submitted. Instead, we are now at double the average timeframe from application to approval.
6) And perhaps because of some (or all) of the above, "Mr. Market" has decided to take a show me attitude for the time being.
The recent PR addressed most of these issues and I am hopeful that we are but a few days from up-listing. I am also hopeful that we will soon discover what Leo had on his mind when he drafted that "momentous December" PR.
We do have two events coming up at which our drug candidates are being showcased so we may see a SP bump. However, the last event in SF did little for our share price.
ETA: I am still long and in fact added to my position today.
