Another possibility is that whatever partnership negotiations they had fell thru, in which case PYMX either takes the poor deal under duress or faces a horrendous financing. Not many good choices when the pps is this low.
Potential partners will take full advantage of PYMX's extreme vulnerability. Still, it's better to get a partner on board even if the deal isn't so hot.
Nic's arrogant reluctance to partner and his grandiose delusions of becoming the 'next Amgen' has brought the company to the brink of complete disaster. Nic gets the award as the biotech CEO with his head furthest up his butt -