The company started off with a tiny float following the reverse merger, as many of them do. It is because of the low float that the PPS was so high at that point. You have to look at the market capacity for a more accurate insight.
As the company was financing its R&D, new clinic in downtown NYC, etc - the share count grew (albeit the OS here is still low compared to many other penny stocks) - the PPS was adjusting to the higher OS with market cap remaining within the same range for a long time.
Then at some point, a perfect storm of bad circumstances has brought the market capacity down to the levels it did not belong at - and now we are observing a deserved reversal. There was nothing major that brought it down - just a bunch of little things along the road with relative silence from the company at the same time. The silence has now broken, all loose ends are now tied up, and at least three exciting news events are expected at any day. The bottom line is that a real hot-sector company, with real game-changing technology, real patents, and superstars on its B.O.D. should not be trading at the miserable market capacity it trades at today.
That's the story.
This post is my personal opinion. I do not provide investment advice.
i.t.m.d.
