you are spot on....watched this happen with nvax just a few weeks ago. dropped huge on failed trial..had a nice bounce days after
agree as well about the cash on hand. I think it should be enough to drive a short term bounce once peeps take a look at it.
this $5 level is interesting. was no doubt that if the pps got close, they would drop it below to take out stops. now that has been done, let's see if we get a pop back over.
Either way I have a hard stop on this and won't take much loss! LOL