Where are all the institutional buyers? Well NNVCD is still an OTC stock. It's not listed on a major exchange yet. And frankly, I wouldn't put a lot of faith in the institutional buyers even after that happens. Suppose I was running other people's money -- in particular, their retirement money, rather than my own gambling money. Would I put money into NNVC? Probably not until phase I trials began. This company has way, way too long a history of broken promises for the big money to go in on a big way right now.
Also, as others have pointed out, once NNVC is listed on an exchange it will be a lot easier to short it. Right now I can't short NNVC (or any other OTCBB stock) in my brokerage account. If NNVC is on the AMEX or NASDAQ I will be able to short it. More to the point, so will a lot of other people.