We gapped down as well so I don't know if that makes any difference to gap theory; I was always better at Einsteinian relativity than understanding technical trading! I think the market does not know what to do with Biota atm, many have been burnt before and it seems to go up and down with no apparent reason, hence the reluctance for the market to push this as hard as it deserves on valuation. What we need are fresh eyes to look at the value, hence a NASDAQ listing would be invaluable. Further sales figures from DS in Japan and speculation on a takeover should bolster the price. 5 years does seem a long way away so value will be seen by instos and potential predators more than day traders. Of course at the very least the BARDA deal should put a floor under the share price and there is much potential in the nearer term for more speculative cream on top, such as Tamiflu resistance, further influenza outbreaks, bird flu resurgence, deals for the rhinovirus and RSV programs.
BTA Price at posting:
$1.43 Sentiment: LT Buy Disclosure: Held
