Biotech Values

[swampboots]

NVCN: a penny stock then a split to $4's, then on Tues. to 8.13 in premarket after announcing the submission of a Premarket Approval application (“PMA”) to the U.S. Food and Drug Administration (“FDA”) for its Neovasc Reducer™ (“Reducer”) medical device for the treatment of refractory angina.
Now back to $5 on the "of course dilution".
Does this Co. now have real merit on the possible outcome of actually dredging some revenue from this device before the next dilution?