I definitely am more aligned with your opinion than the majority here. All good points and spot on with regards to
Phase III risks and dilution. The product is intriguing but management is less than desirable, and now we know that the bonuses they paid in May/June were at best a case study in what a non profitable company shouldn't do with limited resources and shareholders holding the bag.
There are days I think about selling everything and investing it all in PLX. Not here to promote another stock but check it out. They just got $50M injection of cash with a nice licensing agreement by teaming up with a larger company. They are set for 3-4 years while they advance 3 products through phase 2/3 trials. This is where this company should be! X 10!
So,here's why I've stayed so far although I did trim my position conveniently right before they diluted.
1) there are too many irons in the fire to ignore. Govt, grants, fast track programs.
2) if they were in severe dire straights I think they would choose a buy out or partnership before just nose diving.
3) I do think the PPS is being kept down by some scheme or entity. There are biotech companies with much less gong on that ride to $20 on hype alone.
4) even though their bonuses were total bs they have a lot of shares. They wouldn't let PPS go to nil if no other reason than personal impact.
I think nothing happens this year. There will be activity in 1Qbut I think the govt doesn't bite until they are at least on their way in pivotal trials before stockpiling.
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