RE: Current Statusspeculating as to the ups and downs on a bio stock are for the most part estimated guesses by retail investors. large swings up and down are frequent with speculative investments especially in the bio-tech sector as many companies simply can't afford the cost of R&D over the long haul.
As a company moves further into clinical trials while advancing other product lines, the burn rate increases considerably
any number of reasons can trigger downward pressure including but not limited to the following (note the same reasons can also trigger buying pressure):
- annual financial statements will be issued in the next few months and if the burn rate is not anticipated or higher than expected will generate sell off pressure as people get scared with escalating costs and possible offsetting revenues will only be recognized well down the road
or
- milestone targets for coming year may be delayed, missed or no longer part of the company's strategy, there could be a revised forecast by mgmt based upon market conditions (currency floats, competitor products, pipeline for multiple products etc)
- clinical trials may be failing or not generating sufficient results
- institutional sentiment may trigger selling
current trades are small in size, and after the share consolidation considered a small float.
NASDAQ volume yesterday was third highest since stock was listed in November
not sure if this helps or not but remember you are investing in a speculative stock with potential for large swings at any time