Johnny, The dead cat bounce didn't happen sooner because the overall market was tanking at the time, combined with the NIMH results being so abysmal. That those results would be bad shouldn't have been a surprise to anyone familiar with biotech.
The 'pre-event runup' was also missing, which is the period before biotech binary events where the stock elevates ahead of the expected results. There was none for VTGN, in fact the opposite, which indicates very low expectations.
The safest time to play bio stocks is usually that pre-event runup period. You capture that gain and then exit prior to the event (the binary event being the release of key clinical data).
On the other hand, the riskiest bet in biotech is to stay long thru the event. The odds are statistically low since most bio events fail.
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