The news today was critical for this company, but it was also widely expected. Over the weekend I surveyed other message boards, and the messages were very bullish. Many talked about how far the stock would run up today, if the FDA approved our application. Some of the estimates being very, shall I say, "optimistic." My takeaway and thoughts were, that much of the float, was in the hands of sellers, looking to cash in, or long term holders, wanting to see how this story ends. Also, most of those interested in and knowledgeable about the stock, already had their shares and weren't talking about buying more.
The approval was a catalyst in itself, but it also unlocks several other pathways, which are not priced into the stock. Signing supplier contracts (revenue stream), partnerships, and filing new applications with the FDA for their other ketamine initiatives, are now things we can look forward to.
Finally, this is an unknown small company. News like this takes time to percolate with new investors, especially those who are risking large amounts of capital. My opinion is, at least for myself is to remain patient, and let them make the moves they need to make. After all, they achieved an FDA approval, and this is something many others have thus far, failed to accomplish.
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