analysts do not have a clue

The market knows what fair value is. No doubt they were involved in the raising, and desperately want to dump their shares. Nice try.

The truth is that PI-88 has now been confirmed as a much more narrowly focussed drug, and failed to meet any endpoints in a cancer trial of the most closely-related tissue type. The impact on potential revenue is devastating, and there is no way of sugar-coating it. PI-88 was priced as a drug for multiple conditions, and now it's been demonstrated as merely a specialty drug, with a small target market.

Good luck partnering a drug without broad efficacy. It just doesn't happen.

All hope now rests with their next-generation compound. Price target $1.50.