Biotech Values

[mcbio]

Re: ACHN VC shareholder sales

ACHN’s VC shareholders did some very heavy selling on Dec 16-18, immediately after ACHN (prematurely) reported data from the ACH-1625 phase-1b trial. The total amount sold by three VC shareholders on Dec 16-18 was about 1.75M shares worth about $5.8M:

sec.gov/Archives/edgar/data/1070336/000101297509000358/xslF345X03/edgar.xml
http://sec.gov/Archives/edgar/data/889232/000118143109057864/xslF345X03/rrd260348.xml
http://sec.gov/Archives/edgar/data/1033508/000093244009000720/xslF345X03/edgar.xml

No further investigation is needed to understand why ACHN jumped the gun on reporting data from the first phase-1b cohort.

I caught that. I would be more concerned if it were actually company officers doing the heavy selling as opposed to VC shareholders.

Are you implying that it was the VC shareholders that pressured ACHN into reporting the Phase 1b data early, presumably to report good returns for their VC fund for FYE? I assume that's what you're driving at, but please clarify if I am missing something. Otherwise, what difference does it make if ACHN reported the results now or in a month?