Still huge short positions in AVNR. Although one has to believe there has been some short covering in the last 10 trading days, the short interest figures as of March 15, 2012 did not show any measurable reduction in the number of AVNR shares shorted.
According to Bloomberg.com, as of March 15 there were still 25.13 Million shares of AVNR in short position, down just slightly from 25.34 Million shares short on February 29.
This represents approx. 16.7 days of trading volume.
In short, there is still a huge short squeeze on the horizon.