I agree. A PR was warranted due to the aggressive drop in stock price, regardless of sequence or timing of a financing occurring. Basically an over 50% over a 6-8 week period is severe and if sustained over a long period of time, it does matter in substance. Good long term investors might capitulate resulting in an increased mix/proportion of "traders" instead, and perception of something being wrong could turn into a reality if potential investors and patients take on the view "where there's smoke there must be fire". IMO there is just continued manipulation and naked shorting going on. So putting out an interim progress update PR is the smart thing to do.
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