I personally think shorts are between a rock and a hard place with Resverlogix, because ultimately I don't think there is sufficient supply in and around current prices even if they were inclined to cover off the 467K (or a sizeable portion thereof) that they were short on up to June 30th.

I can't help but wonder what would happen if shorts did decide to cover off 100 or 200K worth?  That level of buying imo could vault the PPS to $4+.....and then I could envision FOMO kicking in with prospective investors jumping in based on the excitment that comes with a rising PPS, causing shorts to have to compete with a surge of buying.

Its often said that today's short sellers are tomorrow's buyers....which is typically true unless a stock is delisted in which case shorts get to keep all the money their selling generated.  In the final analysis I believe shorts may be in a situation (of their own making) where their only option is to stand pat and maybe add a bit to keep a lid on the PPS to curtail any PPS based bullishness....just wait and pray the trial fails.

If covering off a couple hundred thousand shares vaulted the PPS to $6 there would be nothing gained....the exposure is the same whether its 500K short at $3 or 250K short at $6