Where should the stock price be now?THTX is down 40-50% or so since it last announced earnings in July. SInce then it has:
1.) Had a reverse split on its stock which is a menaingless accounting entry
2.) Taken its cash holdings quickly back up to $22.9 million after falling below $20 million in early July, thereby eliminating any concern about the 10/31/23 deadline to be above $20 million.
3.) Announced it has reached adjusted EBITDA positive earlier than anticipated
4.) FIled the F8 version of Egrifta on time, which will almost certainly be approved, thereby providing another 10 years or so of patent protection for the company's most important drug
5.) Restarted the TH-1902 trial, admittedly behind the original schedule and with no patients dosed yet. Still the trial is in process.
6.) Renegotiated the terms of its Marathon loan to eliminate some potential problems and free up cash as progress is made on adjusted EBITDA
So, is it just me or does it seem like there may be a serious inefficency in the way the stock has been priced over the last three months. That is a lot of progress and the stock has only suffered. It makes little sense to me. If others begin to realize this is screwed up, the stock could and should have another big move higher.