PPHM Short Interest less then 200K shares up!
The last short interest report on NASDAQ shows that for the period ending begin MAR 2017 the short interest has only increased with less then 200K shares. That keeps us at a total SI of 4.5Mil shares on 300Mil outstanding or less then 2% short interest.
In case of sudden news it would have been better for us that there would have been more short interest. However the good news is that the buldk of the short interest dates from the previous period and hence must have prices around 0.50$.
Probably that is where short sellers will try to go to close and that would then give us the EXACT same kind of DIP that we have on the charts in the H1/2012 climb up from just before the Chicago conference.
However, I am not sure if they can succeed. It would require quite deep pockets and the Ronin factor as absorbed share that are not ready to come back on the market, not even by hitting a STOP.
Now that the quarters are closed there is space for new inflow in PPHM. As AACR is there so we'll have to see.
One could (SPECULATION) also assume that if the market believed that the procedural path that PPHM follows for the RS, fighting it but having to SEC list the reception of a NASDAQ letters, does not scare the market. If it would I think we'dd had a 30Mil$ short interest by now.
Possibly the explanation must be found in the fact that, at least the pro's, know a company doesn't fight the NASDAQ DL unless it has a file with valid grounds because otherwise it is a BIG COST (Lawyers, etc) for only a few days extension. Furthermore there is a serious change that some AACR news (certainly if we follow the official twitter communication channels from other involved parties such as AstraZeneca, Memorial Sloan Kettering, etc) brings is sufficiently high above 1$ for no one to believe in any desisting even if PPHM must SEC list it. They would be compliant in price and doing an additional RS on top of that would be an needless operations as it would aim for something that did already happen.
The coming week will be an interesting one.
Peregrine Pharmaceuticals the Microsoft of Biotechnology! All In My Opinion. I am not advising anything, nor accusing anyone.
