Only reason to buy here at $5 is if you believe or know a JV deal is pending. A JV deal could double the price overnight.
I can't speak for why Scott Patterson is and has been buying, or if he is smart money or dumb money, I know he spent a lot money buying, LOL. Has he bought the last 10 days?
I am just planning to wait for the next round of new shares to be issued and cash to be raised to fund the expensive Phase III trials. I expect new shares to be sold to raise cash in the next 12 months. Scott may have been part of a plan to get the price back up before dilution.
I sold and am on the fence, waiting for the next bottom.