Nexien BioPharma Inc (NXEN)

[FELLER]

HOWEVER! The drop from $4.00 to $0.38 was because NTVA/NXEN did a reverse merger with KDRH and then a reverse split.

There was such a tiny amount of shares (247,225 to be exact) available prior to the 2,463,466 that were registered via the S-1 on June 28, 2018.

You can look NASDAQ’s Historical Stock Price site to verify the volume and share price on each day.

https://www.nasdaq.com/symbol/nxen/historical

It wasn’t until July 10, 2018 that NTVA finally saw some volume from the newly unrestricted shares. That’s also the day the share price went from $3.44 to $1.55 before closing at $2.00.

As time went on and more shares were moved from Transfer Agent to Brokers, the volume got higher and the price dropped to a more realistic figure in terms of Market Cap.