LOL! We're not going to get a re-rate on the back of one single positive phase 2 result for one drug in the pipeline. The business model means we're dependent on other institutional investors to finish what we started and so it's a waiting game now to find a partner to take the BNC210 baton out of our hands. There's no guarantee of this being easy or being done quickly. But fingers crossed.
I think the sell off is evidence of the strength of that tide of negative sentiment/resentment towards the company that has existed for some time now. Perhaps long term holders burned by the arrogance of this company have decided to cut their losses on the back of a 30% increase and invest their hard-earned elsewhere. Not an unwise decision in my opinion because there are opportunity costs and time and money can definitely be better spent elsewhere.
Folks have to remember that the SP in 2013 reached highs of 89c and declined to around 40c-50c and sat their for almost 3 years. Then in late 2015 the company made the controversial decision to do a CR/private placement (to raise the 12 mill to pay for the phase 2 BNC210 PTSD trial) at a discount of 40c when the SP at the time was in the 50c range. So this caused a dramatic decline in SP from 50c down to lows of 24c in a period of just 6 months.
So if there are folks out there who bought in some time this year at around the 30c mark wondering what is going on.... you'll have to decide if you want to get out now while you can or stick around for the long haul. And I do mean LONG HAUL!! Because I doubt we will be seeing the SP get anywhere near those highs of 80c any time soon... IMHO but DYOR.
BNO Price at posting:
34.5¢ Sentiment: Hold Disclosure: Held
