It's down because of the report from thestreet.com stating that the company was "recycling" data from their trials in an effort to bolster the share price because it was been falling. The report also stated that the CEO is the largest shareholder and that the "recycling" of data and the CEO's holding could be linked.
The share price essentially moved on this speculation. The data from the Phase 2 trial is due by the end of Q2 and will be very telling as to where this company is heading.
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