I haven't done this yet myself, but I think you're being wise wrt what could happen on news. On more than one occasion I've seen news push a stock to prices that cannot possibly be sustained, and selling a little at that price may permit you to purchase far more when reality creeps back in.
On positive news with the price where it is today, there will be a rush to get in with essentially no due diligence. Even if the stock moves to well over a dollar, people just hearing about results will see it as very cheap, perhaps the same will apply at $5 or even $10. Eventually investors will recognize that nearly a billion shares are outstanding, and while a market cap of a billion or two is justified, $10 billion isn't yet justified, and the price will correct. It would be nice to buy back 2 or 3 shares for every share you sold, and still have money in your pocket. If emotion truly takes hold of the stock for awhile, I certainly intend to sell some of my position, and plan to buy back more than I sell, but put a lot more than that back in my pocket.
Of course there always is a risk, if some company is truly looking to buy the company, if it did reach over a $10 billion market cap on emotion, it's not impossible that it could be bought out for $20 billion at that time. Short term the purchaser may have overpaid, but that organization knows what it will be worth in time, and knowing what the company wanted, decided to meet that demand, rather than wait, and perhaps have competition.
If both DCVax-L and Direct prove beneficial in multiple cancers, they could easily be worth $100 billion in market cap to whoever purchases the company. It won't happen instantly, but a decade from now earnings from these vaccines could easily justify a $100 billion market cap, perhaps substantially more than that.
Gary
