As long as the Shorts control the stock its going to remain in this situation... But I would think that they will let go as it gets closer to the end of the month... I doubt they will want to be short if the Phase III results meet or beat the expected results. You can look below and see that in most cases since July the shorts are about half of the daily volume and in one case almost equal to the daily volume in Aug.
JAGX Short Interest
SETTLEMENT DATE SHORT INTEREST AVG. DAILY SHARE VOLUME DAYS TO COVER
09/15/2023 389,083 1,077,476 1
08/31/2023 581,064 702,015 1
08/15/2023 528,828 534,085 1 almost equal to the daily volume
07/31/2023 555,590 975,317 1
07/14/2023 220,348 417,939
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