You are exactly right, this was a severe over-reaction on the part of weak kneed sellers. Today's prices are a gift that buyers will be smiling about in the coming months.
My guess... There still a lot of folks who don’t know better than to use StopLoss orders for OTC biotechs. The market makers will find a way to harvest those shares every time.
TheDane said,
It looks like a few large sellers followed by some wobbly-kneed traders have taken this down below .20. The chart shows an early dump followed by continued consolidation.