I think you are 100% spot on. This stock is up on hype alone at this time. I see an easy retrace to .10 coming in the next couple weeks. If it can not break the .21 area on Monday I see a double top or head and shoulder pattern forming. I can see a pull back to .15 area next week and a downtrend till the next news.
On the up side the trials will be very very fast. The success of the trials will make this price go up or down extremely fast.
The huge issue this stock will have is if it works. I do not see the FDA approving an embryonic stem cell treatment being approved without a huge fight from anti abortion groups. That could make this sub penny if it happens.
The 1 billion OS is a little bit of a problem but I have seen higher share counts make giant gains too.
Lastly the CEOs death could severely impact the PPS since the guy with the vision is no longer driving. The next CEO may not have the exact same goals in mind.
IMO there is a fair chance this could see .10 or less by end of year with a lot of people who bought at .15+ using the write off and buying in lower at the beginning of next year.
If it can maintain .20+ till the end of the year this will head towards .50 in the first quarter with a spike one way or the other on the ending of the trials.