Positive P2 clinical trial data came out on a similar product that failed P3 trials earlier in the year rendering the company almost worthless. Spiked to its cash balance after market. There's potential for this to spike higher a bit like ONCS if ppl think the company has hope.
Potential trades:
Buy pre-market for a morning spike in the 7-8 range
Dip buy a panic for a bounce back to expected liquid price 5-6