""what caused the drop at PXS from $4 and then it hovered at $2 for circa 3 years down to todays single digit cents"?"
Hi NZ Trader, the best way, I think, should be starting from Alan Robertson's time when PXS submitted the Bronchitol to FDA's approval, market has been dramatically over-estimated the potential market, also some funds helped to push the SH over $4. Alan Robertson sold his entire holding at the high.
FDA's knockback, multiple setbacks and legal disputes with major fund providers in the following years, saw the SP even dropped to a few cents.
PXS-4728 deal with BI gave some life back into the company, but share price has never reached 40s again
I believe the company is sitting in a very good position now, not only because the pending 5505 result, but also a few other pipeline candidates such as SNT-6302 and SNT-4728, it derisked the company from being a single pony ridder.
I maybe held a view different from you and some others: I don't like PTM such a fund to be a substantial holder, see what's happening...
At the end of the day result talks, not those Michael guys or some near term "holders".
PTM will no doubt sell all their holding but won't last long, I'm more concerning BVF, the long term Biotech expert, would possibly disappointed and dump their shares.
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