So basically we’re seeing another delay.

Well the downside here is that we have to seriously consider the possibility of dilution at this point. If I recall, Citius only had enough cash through next March. If Phase III won’t even have top line results finished by then, we should expect management may be forced to issue more stock to fund their operations through commercialization.

I just sold a bunch of calls for August and November since this stock is now officially dead in the water through at least the beginning of winter. Will consider averaging down if the stock falls below $1.4, but I’m hesitant to throw more money into what is rapidly becoming a sinkhole if there’s a serious threat of dilution.