Anonymous sellingProbably this is the reason?? Copied this from Stocktwits -
"Maybe many of you already figured this out but the company is paying off the 3 year loan in shares that are being sold constantly on the open market since October 9th. In USD pricing the lender needs to sell about 65K shares per day to recoup their loan. As the price sinks under the selling pressure they need to sell even more shares to make their approx. $496,000 per month. It is a vicious cycle that will continue to work against us until they post some positive revenue numbers next year. Yes it sucks but it is not uncommon in business, especially biotech. The company isn't going BK with $30m in cash and apparently their products are quickly selling off the shelves in Canada. The STADA revenue will be early next year along with several other new agreements. Since insiders own 15% of the company we aren't the only ones taking a beating. The question is whether to keep buying or step back and let it freefall. Still pondering......."