I was surprised it ran the way it did. The technicals in addition to the fundamentals were raising warning signs on Monday afternoon. The run that started on Friday and carried into Monday was a chance for people to reduce losses or pick up small gains if they wanted to. I just watched from the sidelines because the drop came as expected, I just didn't know when on Tuesday it would begin.
I've been watching biostocks for the last 2 weeks and I've seen worse drops before earnings and Clay wasn't covering them. I see people try to make him a nice scapegoat on these boards, but there is usually more to the bearish activity than what some want to admit or realize.
There are potential catalysts for the remainder of 2017, and I expect better revenue numbers. However, they burned through $9.5M in cash the last 2 quarters and had $6M in cash as of 6/30/17. They said they are trying to cut spending, but I wouldn't be surprised if they needed to raise more capital in the near future. That wasn't pretty for the stock the last time (May).
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