Someone just bought 220k shares at $3.30-50 in the last minutes...

Someone just bought 220k shares at $3.30-50 in the last minutes of the day to ram up the share price. Watch out for another director buying in at these levels. After talking to management today, they're pretty confident.

Can the stock price go lower? Maybe. But right now it's at a $240m market cap. If respiratory is only trading at 5x sales, that's around $40m normalised value. You could be looking at Penthrox being valued on the market at $200m - that's $0 for continuous flow, $0 for US penthrox, $0 for China penthrox. Just $200m or ~10x sales for Aus + Europe Penthrox. That's seems reasonable if not cheap. So can it go lower? Yes. Of course. But it probably doesn't need to be profitable to turn around, and some people including insiders seem to be willing to roll the dice at this price.