"...there was not enough volume lately to cover their 7 Million shares by shorting the stock well above their buying price."
If I remember correctly, LFB has the right to buy 19.9% of the offering. We probably will not know if they excercised that right until the SEC docs are filed next week, but if they did then the other "institutions" would have acquired "only" about 5.6 million shares + whatever warrants. (LFB could maintain 19.9% ownership of GTCB.)
The way things have gone, I wish LFB would acquire enough shares to bring their ownership to 51%. That would give GTCB enough cash to survive (40 million shares @ $.87 = $34.8 million) and would put the current management on notice that things had better improve ... or else. Of course, that would require re-negotiating the 2006 deal with LFB, and management would hardly agree to that. (LFB recently did just that with a French biotech they partially owned.)
