Tapestry Pharmaceuticals Inc (fka TPPHQ)

[rattlewatch]

Hi Kriskringle,

Ran across some insider buying on TPPH,which has led me here.There have been a total of six insider buys since Oct 06 for a total of 170K shares approx,in the $1.50-$1.75 range. They also have some interesting Options which vest when the share price is up certain percentages of pps.(below)

Have a ? for you if you don't mind.Any idea what happened to this company now that it is trading so much lower then 5 years ago?It was $130 per share in 02.

Thanks
rattlewatch

"1. This option vests as follows: 1/6 when the 20 trading day average of the closing sale price of Tapestry common stock equals or exceeds 130% of the exercise price of the option; 1/6 when such average equals or exceeds 160% of the exercise price; 1/6 when such average equals or exceeds 190% of the exercise price; 1/6 when such average equals or exceeds 220% of the exercise price; 1/6 when such average equals or exceeds 250% of the exercise price;1/6 when such average equals or exceeds 300% of the exercise price. Any unvested shares vest automatically five years from the date of grant."

http://www.sec.gov/cgi-bin/browse-edgar?type=&dateb=&owner=only&count=40&action=getc...