Frankie, WHO can declare any emergency they want. BCRX is no where near having a potential treatment. No sense of urgency from the government on funding and BCRX has not the money to research on their own.
BCRX will need more money just to get 7353 to any commercialization. They could have had a secondary in the $8-$9 range pre 7353 results. They rolled the dice on 7353 having better efficacy, at LEAST over 50%, if not in the 70% range so they could have done a secondary in the double digits.
The dice came up craps. Thus $3.50 pps and a horrible position to have to offer a secondary. All the futes and funds that bought in (see 3/31/19 holdings) will now have to determine by their rules if they can hold the stock under $5 or $4 or whatever their respective thresholds are.
The stock will probably see $9-$10 again, but not for a long long time IMO