That is called cheap dilution at the cost of shareholder value deterioration.
The board has the power (LoL) to do whatever they wanted ! some board might do things that create value for shareholder by awarding options at a strike price higher then trading price or exercise the options at a price higher then trading price to make money while others give outright discount.. !
This behaviour is something to be removed from this company.
This is not the first time they got FDA approval and share price going down so any smarty pant trying to tell you that trader exited is making fun of you !!!
The CEO change is the only thing needed in this company and sooner they do the better it is for everyone !!!
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