$EVFM On 4/23/2020, company took out a loan with Baker Brothers and agreed to an immediate conversion right to stock at $2.44. This in effect is a secondary offer at 60% discount. Baker was already a seller in prior quarter and has likely spent the last 3 weeks converting and selling shares. In my experience, when a biotech conducts financing immediately prior to FDA decision or test results, it indicates lack of confidence on the part of the management. Check out $SAVA. Sure, $EVFM can be an exception, but it is not likely. Look at what the management did - sell stock at $2.44, not what it is saying. If they needed money to start production, they could have used what they already had on the books and delayed financing until approval, when prices would be much higher. If you want to bet, fine, at least protect yourself by limiting position to something you can afford to lose at 90% or more. Maybe buy some options instead of holding stock.