No trial results ? 18 to 24 months away from any catalyst , going to need cash before end of year, I see nothing to make this move up. I am not bashing this just stating what I can see.
They have no big catalyst to make this stock interesting under cash but when they raise it will be trading at cash price around the $1.50s. This is why its going down and not up, looks to me like the sellers have not stopped selling.
here is the link to the latest presentation. I quote "Solid financial position with runway into 2018" Going to need cash soon.