The weekly chart has a very strong support base at $1.23. Not telling you how to trade, but at best you pick up $0.20 - $0.30 on your short trade. However, you risk a multi-point swing to the upside if the gap from 9/24 gets filled. From a pure technical analysis you are way upside down on our risk/reward ratio. If you add in a bit of institutional intelligence (without a doubt there are talks with FDA and potential partners)you would have to be nuts to short at this level.
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