vanessapu, this question will be more easy to answer after the next Q/CC.
However, the value is intrinsically already there and is since 2012. It just has not found its leverage path yet.
Now if 'value' in your question stands for 'pps' appreciation then that is another story. The PPS of small cap biotech is volatile and unpredictable. Good for trading difficult for investors. But it needs only 'one' good event and it will find itself high up overnight. Just as it needed only 'one' bad event and it found itself deep in overnight.
The PPS is kept in a range at an extend I have never seen. So much naked shorting (50/60%) that is HUGE. So either this is part of keeping PPHM from funding with the ATM or the price is kept low because there is some negotiation in the background and a low PPS serves one of the parties.
I think PPHM might have anticipated this and that the Dart (Eastern Capital) deal fits in such scenario where PPHM feared ATM funding would be a problem (as IMO it currently is). I am even more convinced about the possibility of such scenario because of the unearthly calm by which PPHM said they would keep financing as usual. I don't think you can make such statement and keep standing UNLESS you are quite sure of what follows.
Personally I am actually waiting for an event before the Annual that will turn the complete situation up side down and jump start us for good.
I mean what all what we get to read these days and all the capacities of Bavituximab it is impossible that a complete scientific community just ignores this on request of the BP's and with the FDA as accomplishes. The world is far bigger then the US and Europe these days and there are place where they would even approved Bavituximab just because it isn't approved here. And the US doesn't want to loose key industries as Pharma/Biotech to China or India.
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