John, here is what I posted on the YHOO board.
I was as puzzled as you were as to how in the world the stock could actually go down on a day when the Company released such amazing, though expected, good news. I suppose that was the reason, maybe there were enough people out there who expected the news and recalled what happened the last time and were prepared to sell right away. When that didn't happen, they must have sold anyway and moved on. Why else would anyone sell? In a way I was glad that didn't happen because it would have attracted all the crazies again.
All they did was see some stock skyrocket and sell it short based on the probability it would go down again. To help it along they post all kinds of trash on the message boards to help the process. The longer it takes, the more insults and false information they post. Nobody needs to hype the stock because it has enough going for it anyway. As hard as it is for everyone, including me, you just have to ignore them. It is a shame you have to strategize press releases based on them.
I think that the news helps sweeten a deal with a pharma even more but every day that passes and every positive test results before that, sweetens the deal even more. I would put it off as long as possible. In a perfect world, the stock would go up sufficiently to make the calling of the warrants worthwhile to the company and the warrant holders. That way the next phase of testing would be financed by the warrants and the company could make just a marketing deal with a pharma. This is all they really need, if the financing was there.
The most important thing is that the drug is working. It is actually regenerating nerve cells and improving memory in humans! The questions of getting the drug into the system effectively, and toxicity, and dosage levels and so on are all behind us (and still before any competitors). Now we have the first big indication about efficacy in humans from an independent testing source. That is a very big deal to me and if the market is rational in any sense it will be reflected in the price in the long run. To me, it is a once in a lifetime buy and hold situation.
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