rmp I assume you are responding to my post. Firstly I didn't say...

rmp I assume you are responding to my post. Firstly I didn't say the SP is being manipulated by traders who want a bigger stake in the company, there are several factors holding the price back, I mentioned just a few of them.

I would think most traders would have exited (or should have done) after the last 2 announcements when a large price spike didn't eventuate and as you say the 1000% gain failed to materialize, the few left would be doing well to get close to 2c now. There may be still some long term investors who have found themselves having to sell more options than initially intended when the SP didn't charge ahead, to pay for the conversion on the remaining ones held.

Market SP manipulation is common, how do you think the hedge funds make their money? Smaller stocks are not immune to having their SP gamed either, and it will likely be within ASX rules if one bothers to complain. If there are any longer term large BIT investors wanting to add a few million shares, it doesn't make sense to buy up on the market and push the SP through the roof. Today a 2 million share purchase would push the price up over 18c, yet, 2 million options can be had for 2c or less if bought in small parcels. it would not be hard to "cap" a stock such as BIT and force the option prices lower as a consequence.......... this is just one more potential factor to the flat share price.

Most days there is enough arbitrage between the options and the heads to make it worth averaging down for many share holders if they can be bothered - collecting more options to convert without spending more in total, by selling the heads and buying the options with a 0.5c or greater discount. The bonus is that the money is in your pocket till the end of the month, if Europe turns to custard over the next 2 weeks, your options are open (literally).

Other reasons:
1. Macro market issues with European sovereign debt concerns, this will weigh down disproportionally on smaller stocks generally.
2. The low market cap values that Australian biotech companies have compared to their American equivalents.
3. Confirmation bias in potential investors: minimal interest following good results scares off newer investors who think they may have missed something - "if the price is low I'm better to be a non-investor for now"