I agree. However, just to be on the safe side, I averaged down. It was a tough decision to add more given I was down 90% already but I think that may be the only way (or a safe backup at least) I'll break even or make a little profit. Just learned a hard lesson to only start investing in biotechs after phase 2 is well funded. You'll get the shares so much cheaper and even if it doesn't pan out, you won't lose as much.
Anyway, also makes sense for them to not partner/sell before releasing data. Let's hope the data is great and any premium is offered on top of a higher SP (if a sale is its ultimate destiny).
After the RS, I was left with ~500 shares at $30 average. Now I hold about 4000 shares at single digit average. Just in case the company is sold, I think there's a good chance of getting even even in the worst case scenario.
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