Leaking Ship, page-3

"do these sellers know something?" Well they know that they want out!

No, really. The explanation is likely a very simple one. In Nov last year the company did a CR which also resulted in a large placement as well as stock going to the underwriter. It was always expected that much of the excess stock, particularly from the underwriter, would at some point find its way into the market.

Since then the price has struggled to break above the CR price, ie the breakeven price for the underwriter etc. There has been limited opportunities for them to unload. We are now in the final couple of months before trial results will hopefully come out. Unlike most small shareholders here, some who are currently holding large positions are not in the business of rolling the dice on highly speculative biotech trial results and are thus keen to be out before the results are known. Its not because they are in the know or that the ship is leaky. A simple case of time running out for them before the risk event comes along.

This stock has very low liquidity so its hard to offload larger positions except in the euphoria following certain events which occur every few years. If you want out at any other time and your position is sizeable then you will drive the price down. Look at the chart and you will see almost every large volume trading event since 2018 has signaled a fall in the SP.

Yes, today signals the lowest closing price since 2018 and continued selling pressure may see it go lower but there is no reason to believe its a leaky ship. I believe the above is a much more likely explanation. Remember also that the SP went up last week and that was also explained by one poster as being due to the a leaky ship. Not every change in the SP is because of a hole in the boat.