As soon as there appears to be support and a glimmer of strength...

As soon as there appears to be support and a glimmer of strength in the share price, the sellers stack up and down goes the share price. The determination to drive the share price down has been relentless since the Merck/Pfizer announcement. The only viable explanation is either someone is in the know of poor results in clinical trials, yet to be reported or more likely there is a interested third party, which has instructed a broker to accumulate shares at the lowest price possible with a target of becoming a major shareholder with a possible future takeover bid at a price of most likely less than $1.00. If this is the situation, at some stage soon, the interested party will need to disclose or announce to the market that they are now a major shareholder.
Of course this is just my opinion and highly speculative but for the price to rise from the share purchase plan price of approx 32c to 63c in a quick time and even more rapidly to go back down again close to the SPP pricing, cannot be considered normal market movements.