35% of float churned in 2 days! Extremely impressive volume. 35% of the float has changed hands in the past two days.
The average price traded Thursday Friday for all that volume is somewhere around $3.60.
Volume Monday is going to be huge. I have biotech funds circling this globally. Have in the past worked with some heavyweight players. Sent a few emails, hopefully they join the feeding frenzy!
This moment in history for the company just "feels different"!! Setting the stock up nicely for an even bigger announcement just before the long weekend!
If they don't want to announce fundraising for 90 days, stock could have a lot of market value left to fill in before that price is announced!
$30m on the balance sheet isn't enough for a stage 3 trial. Even with 50% off, you need a solid $50-$100m. No one in their right mind raises that kind of capital at $230m market cap. Have to think $800m - $1.2b the goal for that raise. Lots of comparables to back this math.
Get what you can and hang on tight!!
GLTA!