Quite literally...There a more sellers than buyers at the...

Quite literally...

There a more sellers than buyers at the moment.

I suspect that those shareholders who truly believe in the long term success of this company and the technology are holding. (Hopefully they'll be proven right but no guarantees)

In the short term though, people are selling out of fear and loss. Also, some people are selling at 8 cents having still made an excellent profit.
Bear in mind that the stock was as low as 1 cent in 2020.

Sooner or later the share price will settle... and then wait for the first announcement that recruits have been found for the trial - which should cause at least a small re-rate. Is it really feasible that the company won't find any recruits?

From there - who knows. I remember fondly how wonderful it was to see the stock hit 7 cents last year thinking "You beauty!"
Now it's heading towards 7 cents again and the response is "Bloody small caps and irrational markets!"