There’s a simpler explanation for the decline in the share price. Given the combination of no or poor communication and this being an OTC stock with just a base of retail investors, the modest volume is killing the stock price. Add in summer and volatility in the overall market, the downward pressure increases.
Volume is the key. If there were really a concern about the trial results that has leaked, there would be significantly more downward volume — the 10 day average volume is only 750k shares traded, really nothing.
As I’ve indicated before, there is no real example of a biotech that is traded exclusively as an OTC stock with a market cap over $1 billion. Even with positive trial results, there is a limit to maybe $2 per share upside at most until the company up lists to a major exchange.
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