Kiran- I have given you my thoughts. I'm not sure what else you want me to say? This is a heavily manipulated stock in the low volume periods. Just today, for example, the vast majority of the volume has been in the $5.88-$5.90 range...but it won't break through it. The trading pattern during these times is very predictable too. Virtually every day it will trade higher most of the day and with an hour or so left in the day...it is walked down to near the lows of the day.
Also, as previously indicated...we have broken every level of technical support there is (the only thing remaining is the 100 day moving average at $5.44). I'm "hoping" the last 2 trading days are the beginning of it finding some footing in the $5.80-$5.90 range, but there is no way for me to guarantee that. The stock is way oversold too, but it remained oversold for several months back in September-November before finally breaking free. Technicals are a guide, not a certainty.
Lastly, the company just said last Tuesday that information on next steps with Drisapersen would not be released until sometime in Q2. Based on this, one can surmise that if their 120 day wind-down period with GSK started on 1/12/14...that the likelihood of that info coming before 5/12/14 is slim-to-none.
That means, you've got a long road ahead until any further "big news". So, I suggest if you are that worried you sell the stock, take your lumps and move on. This is a biotech stock. It's highly volatile, highly speculative and not for the faint of heart. GL.
