Yes. It seems that it was just 'pumped' yesterday and 'dumped' this morning. Last year GVBP- 'biotech' stock was trading in multi-millions $ before the SEC halted it-classic pump and dump of 2009- $15-20m vol. traded above $1 in the morning before the crash and now it's $0.02.
From the last PR, imo, it seems that the company may be planning to restructure and that is why it's giving warning like this:
"Management informed investors that it had noticed continuing high trading volume in the Company's common stock after the Company's filing for bankruptcy and of its belief that there will be no value for the common stockholders in the Company's bankruptcy liquidation process, even under the most optimistic of scenarios. Stockholders of a company in Chapter 11 generally receive value only if all claims of the company's creditors are fully satisfied. In this case, Company management believes all such claims will not be fully satisfied, leading to its conclusion that Vion common stock will have no value."
They may continue R&D under the new 'restructured' organization/company, but then there won't be any value to VIONQ common stock/shares, imo. Another recent/similar example is the formation of FCSC -Fibrocell science from Isolagen which was under BK and had a pending FDA filing that time.
My posts contain just my opinions. Please do your own DD and homework before you take any investment decision.
