BAR123, there is a quid pro quo on Wall Street and it entails giving in to massive dilution and letting IBs repeatedly wet their beaks at your expense. In return, there is supposed to be IB support. That is not the way AVXL was born: it came about via reverse merger, gradual increase in share valuation, raising money at opportune times using an ATM facility. This way has actually been good for shareholders since 2014 when it started.
You are betting here on 2-73 for AD and on 3-71 for Schizophrenia right now. Of course, if the MAA fails then that will be very bad. You place your chips and you see what happens. Actually, this is one of my main complaints about the company since i first invested in it: I placed my bet on 2-73 succeeding with everything it was tried on and the company believed less in 2-73 than they purported to: their Rett and AD trials were too small because they got tyrannasaurus arms when it came to funding more patients in the trials. But, despite that, the MAA has a fighting chance and now they "get it" with respect to setting up the 3-71 P2 to be more stat sig. I think if you don't believe the MAA will succeed then YOUR risk management should involve selling now or at whatever price point you can achieve prior to the decision. Anavex does not have to hedge: it is going forward with its programs because that is what its life is all about.
You aren't selling because you also believe in the mission. And you are frustrated because, well, if SAVA could have a $2b market cap prior to its meltdown then why can't AVXL? Well, that is the way the cookie crumbles. Some day, the stock price will be inflated past what it is worth (as when it hit $30 several years ago.) Let's just wait and if things go the way we think they should, then we will be rewarded. All the frustration will slide away.
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