Aiming, One would think that Dr. Stoll would want to allow the share price to rise as far as it could get before doing the PIPE. What might potentially be a drag on the up move could be - a) significant block sales of shares following warrant excercising, b) the overall perception that a PIPE is coming, and c) the usual shenanigans that go on during the PIPE pricing period. The existence of $5 options on Cortex might also be a factor. Still, I'd be surprised if we don't spike to at least $5, even if the PIPE is priced lower than that.
Looking farther out, what bothers me is the non-Ampakine in-licensing strategy. I still can't warm up to that idea, though I can see the rationale for it.
I was talking to someone recently who has early stage Parkinson's, and we discussed high impact Ampakines. I'm wondering when Lilly is going to get a trial started. And there's nothing stopping Servier from starting a Parkinson's trial with S-18986 either, to go along with their MCI trial. A Parkinson's trial could really be a high profile event for the entire Ampakine concept/platform.