More the fact that to reach any decent SP price (not necessarily $5), we will need to consolidate. We have too many shares on offer which is a parking break for any major price movement. This is standard procedure for Biotechs:
Raise funds through issuing equity > fund trials and develop drug > no. of outstanding shares gets inflated > consolidate to increase SP.
A 5:1 consolidation will reduce no. of shares to 180 million which is still a decent amount. They may even even go for a larger ratio. It is just something to think about when people start throwing out SP predictions (myself included). It is a good problem to have at the end of the day I guess.
PER - Megathread, page-346
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