fundamental msb (no chart talk), page-5

I bought MSB at around $7 and a few more times over the past two years down to $4 (obviously I have a number of cuts from the falling knife!). I have limited knowledge of the Biotech field but do recognise that to get something into the Market is a lengthy process. However if it took the Coy some 7 years to reach its high of $10 but only 4.5 years to drop by some 60% from that high then obviously the Market has some concerns. My question is - Is the fact that out of their 12 key therapies, only 2 have made it to phase 3 and could this be a reason for the slowly diminishing share price. I find it hard to believe that the share price has been manipulated to this extent.