Couldn' agree more. PNV is one biotech stock I've been involved in where what you describe has happened. They are slow burners and there are many milestones that need to be achieved before big licensing deals are won... Thankfully RGS have a healthy cash position with all but guaranteed further licensing deals to come in 2018 and beyond through its current partnership.
Happy to continue building my position slowly but surely
RGS Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
