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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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18271843 No.18271843 [Reply] [Original]

What’s going on here /biz/?

What is this meme stock? Can i make anything of this? Or are they going bankrupt?

>> No.18271927

This was a p&d from like 2 months ago. I sold at 80 cents and never looked back.

>> No.18272022

>>18271927

So it’s basically dead in the water/about got go under?

>> No.18272462
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18272462

>>18271843
Rigosertib is almost guaranteed for FDA approval once their Phase 3 INSPIRE trial concludes, so approval will hopefully occur this year. It will be the only drug in the world for high risk MDS following the failure of an HMA. Due to the grim outlook for those patients, it seems like they wouldn't have much to lose by being prescribe it. The drug has potentially billions in market cap. They also have several other studies going.

The reason why the share price is so low is because they have until June 1 to maintain a share price of 1.00 for 10 consecutive days, otherwise they risk being delisted from the NASDAQ. They won't actually get delisted on that date, though. They should be granted another 180 days to maintain the 10 day streak at 1.00. Regardless, the major indices are discussing putting a halt on delistings anyway due to COVID-19.

This stock is a risk, and the price reflects that. But this is a legitimate 10-bagger candidate. I could see them being bought out by BMY, whom they are already working with an a combo study with their oral Rigosertib. Maybe between 5 and 10 a share.

>> No.18272686

>>18272462

So if they get bought out or this drug takes off it could either have a nice surge or moon?