biotechs by nature have very long lead-times as objectives & progress are developed over years as opposed to months, however as can be seen right across the listed company sector investor sentiment fades as while attracted to the companies direction / science / objectives a lack of noticable progress leaves many in limbo, frustrated with the "appearance" of going nowhere. You can look right across the board & many companies that have continued to move forward their inital objectives & getting closer to the endpoint have inturn drifted lower over years from the impatience of investors. Many companies who have followed their intial objectives as intially put forward have been represented in opposing manner - ie: as progress is made the share price is in steady decline - many from $1 to single cent figures soley as result of impatience - yes some may have had a degree of dilution but that has only been dealt a heavier hand by the decline. Any positive developments are also usually just sold off on spikes as investors take the opportunity to exit the stock they have been holding with frustration over the decline.
It's also another reason a significant amount of life-science companies remain unlisted - to avoid exactly that scenario unfolding. Even as succesful developments are made the share price for a company still largely represents the companies value - where as remaining private no value can be attributed simply by what the stock price says.
All i am saying is as the company trotts the globe presenting to a wide audience there is also the opportunity for them to capitalise on this at home. The more you can get out & then relay this to shareholders the higher confidence that remains in the company achieving it's objectives & as a result strengthens the registry.
I completely agree with your post but as is apparent there are still a large amount of shareholders that are unwilling to display this patience - hence why the share price is where it is & many are willing to sell.
PYC Price at posting:
6.6¢ Sentiment: None Disclosure: Held
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