I mean you invested in a biotech start-up stock with none of...

I mean you invested in a biotech start-up stock with none of their IP even close to end of Ph2 so CR are always expected especially if there's an unexpected acquisition
PH did do the expected big CR when the pps was on the rise and as always there was a pull back after the CR but ran again to 60c so investors had the opportunity to sell and benefit from this CR. A lot of management don't take advantage of this so this was a very good CR.

Agree on the CR at 20c which was a surprise but the pps also did rise to 23c so investor had opportunity to sell. The last CR was done at an advantage of RI which rarely happen but clearly they sold to take full advantage of how the SPP was arranged and shorters took advantage to do maximum damage to the pps dropping to as low as 4c when the placement for SI and Insto was at 8.3c only a few week earlier.