I think he is just an investor, and yes the stock was $4.00 after it went to NASDAQ. There are many reasons why it dropped. none of them having to with any bad news regarding the company. In fact, the company has had nothing but great news. But when a company is not fully funded before starting a trial and the US patent was not locked down manipulation happened.
For instance, a month ago the FDA approved a new version of the compound even though Phase 2a was well underway, the stock first went up 50% and then closed flat and trended down ever since. But the stock traded 5 million shares or half the O/S. Pretty crazy. Yesterday the stock traded 4 times the O/S. 41.5 million shares.
Look at Sage, up 75% and $70 today. That is the world of Boo techs.