Mp,
There might be some marginal institutional investors who may bail out. They usually place small bets and do get impatient and move on. The stronger organizations, especially those who bought-in recently, know what they were getting into. Have no doubt that in the QA sessions and 1-on-1 sessions at the investor conferences, they put Dr. M. under the microscope. they were able to look him in the eyes and asked probing questions. They made their assessment about the CEO and might have even received tid bits, without blatant violation of SEC rules, that gave them the confidence to go back to their colleagues and make the recommendation to invest significant capital on a very risky/early-stage Bio.
This does not guarantee anything, they can be wrong and often are, but it is a clear positive signal when seasoned pros make the commitment and they tend to be in for the long haul, or until a significant negative event forces them to unload.
Obviously, as we are, they expect to receive regular investor updates. Some may even contact the CEO to check in from time to time. They do have a slight advantage over retail since they have the leverage to get management's attention.
No news is sometime good news. Anavex is no longer trying to prop up PPS with fluffy PR's. That was the MO and did help to raise cash but it is no longer how the Dr. is playing the game. Expect "meaningful" news only going forward. Hopefully soon; my believe is that we will hear something within the next 2 to 3 weeks.
GLTY and all longs.
