"The increased shorts have to be financing related."
Totally agree, Joe. You were among the first to pick up on the signs.
Cal, thanks for the update.
The selling appeared to start before the AGM, in early September. This suggests that RK placed one last PIPE deal before her departure - and that incoming management stayed with the decision.
Since this money meant survival, it's hard to dispute the necessity for one last PIPE deal.
The lights are still on at Markham, when we knew, for a fact, that cash was needed immediately.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Just speculation, but one has to wonder whether RK was postponing the AGM, waiting for the Journal of Rheumatology article in the hope that it might help.
The COX2 news was something we've all known about for a while now, but the withdrawal of Vioxx came as a complete surprise.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Assuming one accepts that we've been in a financing for weeks, the question now is: what were the terms? How many shares, at what price?
Then, will that be followed by a conventional PP?
It sure will be nice to get off the PIPE.
Jim
|
