I dont have the current float numbers in front of me to confirm that, but cash on hand at a given moment is a bit irrelevant. There is ZERO revenue. They are in a pure burn state. So if we use your logic, than ANX is worth less and less everyday, by definition. You state they have no debt when in fact everythign they have is an ongoing debt. I understand that you meant (correctly) that they do not have any loans, etc. but they have daily expenses, payroll and the like so it isnt as if their cash was sitting in a bank waiting for a rainy day. Also, ANX does NOT have enough cash at the current burn rate to sustain them until the likely FDA approval of anything. In other words, they will go broke before they can actually earn their first dollar. They will have to arrange to be bought out or further dilute to raise capitol. There is simply no other mathematical way they will survive. Investors know this.
If you day trade this you can make some nice coin on a few flips. If you are a buy and hold kind of guy I would wait for the dips and plan to hold a couple years for maximum gains. With each event though, this becomes more and more of a risk instead of the "sure thing" it once seemed.
News 
Market Data 
Discover 
