Its opinion...I think there are a number or risk factors weighing the market valuation down....among them:

-Risk that financing won't be secured at all

-Risk that any financing would involve too much dilution

-Risk that BETonMACE might have to be extended thus increasing costs

-Risk that BETonMACE could ultimately fail

-Risk that competiton could diminish the need for Apabetalone assuming they're able to ultimately succeed

Risks, risks and lots of risks....

Even with those risks though I think the current valuation is low, not "unbelievably" low however.....we shall see how the market reacts if/when they take care of the financing issue.