1. Their Phase 3 trial didnt show efficacy 2. They have 2 others in Phase 2 3. They have 35 MILLION in cash! 4. They are paying a 10 million payment toward debt, which will leave them only 3.2 million in debt. 5. They will have betwee 20-25 MILLION in CASH on hand after that initial payment.
....looks like they're doing ok to me. On cash value ALONE, this is undervalued.