CBIO will most likely raise a cash now , they need cash, so it'll go further down eventually . You've to understand these games in biotech.

I started position few weeks ago cuz they had a reverse split , float was very tiny after the split and that was a hot theme in the market . That is, low float reverse split stocks were going nuts ! You've to understand all that and what traders are looking for. That was the reason CBIO went crazy because total shares were about 1M only and it had some kind of news. I've seen many companies share price goes up right before dilution as well. So, I will not be surprised to see offering coming in CBIO any day ,
Imo