I may sound delusional but bad timing/luck has definitely played...

I may sound delusional but bad timing/luck has definitely played a part. The FDA clearance took much longer than anticipated. They had to do a CR about a month before the clearance came in. Eventually clearance came, the market loved it, then the quarterly dropped a couple of days later and the market shat itself as it was apparent that the cash had been burnt already.

If the clearance came before that CR, the CR would have followed at a much higher price, meaning no more weak cash position in the quarterly (as they could raise more money) AND likely they could have raised at a premium because of the recent clearance which would have propelled the price further, probably above 50c which in turn would increase appetite for the nasdaq listing. Instead we are floundering in the current position.

How much a month can turn the tides! Now questions of management can still be asked because that counterfactual is not reality, but just interesting to ponder. I'll go back into my dark corner now.

PS have not taken up my allocation as I have taken a bit of a step back from the stock market in the last year or so.