Excruciating... Price is definitely being held @ $4 or below until NASDAQ listing... Whomever has their finger on the scale is keeping the price as low as possible for their associates/partner institutions/etc until they're able to access it on NASDAQ.
No way they're letting HGEN stretch its legs beyond $4 until they can get in on the action, and as low as possible (ie. as close to $4 as possible).
In the meantime... the silence is deafening and the wait is painful, but once the gates open this is going to fly like a bat out of Wuhan.
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