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Actually just bought in pretty heavily to this. The massive drop from 2.00 that occurred on Sept. 5 stemmed from their Phase 3 Neocart results that they posted. They failed to meet the primary phase 3 endpoint that they had set for themselves. Despite this, the results they obtained showed a meaningfully significant improvement in both function and pain reduction over the alternative microfracture procedure. They very very narrowly missed hitting their own goal, missed it by 2 responses.
I'm surprised that the stock tanked so exceptionally despite the trial having strong results in almost every category. The company very recently had a large public offering of additional stocks further complicating things. They did this to generate more revenue in an attempt to keep themselves afloat for the time being.
The reason for the growth lately and the run up that we are seeing right now is completely based on the meeting with the FDA occurring on the 30th of this month. The FDA has much more lenient expectations then HSGX set for themselves. Neocart's results speak for themselves, it is relatively fast acting and often exceeds the capabilities of competing treatments. The ceo feels confident that the results they've obtained will be sufficient for approval. They are going to be discussing with the FDA the possibility of a BLA submission. People are beginning to rally around this stock, myself included. However HSGX is certainly running low on both time and funds. Time will tell if even Neocarts approval could completely turn things around. Exciting lead up to approval though!
. I cashed out half at .90 just incase