Agreed, first an for most do they believe they have enough information to present to the FDA for approval of phase II finding....
If that is answered then it leads us to believe that they will proceed right into the phase III trials.
I think the street is nervous, because the last time that John made an annoucement he had to retract it. I believe that after todays close, this may just about be over sold, theres not many of us left who were long time holders from the old company and have the very low cost basis, most have now cash out.
Last month 21.7 million share traded, and to date this month another 10-12 million, I really think based on no new news that we may go a little further down,maye not, there is still room for the oldtimers to make buck. How ever having said that, if the company releases news that the phase II has been completed and they have submitted there finding to the FDA.....Than this stock will not only soar big time, and funding will come in from the side lines. The Investment bankers love a success story and I believe that they will pour in. The bar has been set a little higher on the credibility of news released unofficially, again based on their history.....This can change in the blink of an eye, don't loose hope, but for now we can only wait. Remove the doubt and we will move one way or the other.
Funny thing though, last month Rite Aid (RAD) had the same kind of massive sell off, the street and investors were expecting the worst. What they got was better than expected news and the stock is doing an about face. You can only hope for the best sometimes, with all the due diligence you do, things are what they are and sometime for the better.
Just my opinion of course,
Sashasees
