Called DNDN's T/A.
Spoke to him at 6:05pm
206-829-1510
They were not surprised at the price drop for 2 technical factors that were occuring today.
He stated options @ $7.50 expire tomorrow and many were excercising them. However, he states there is a 20% short position in the company. Absent of the options that are coming due, today's news would have exploded any short position, and covering plus new buys would have move the stock price. He referred me to the strong first 10-15 minutes in pre-market, followed by the daily trickle down. Shorts, knowing options were coming due used this to scare those needing to excecise options by tomorrow by a strong shorting effort. He expects this to end sometime tomorrow. He does state that there was a very high volume of new buys today along with options being excercised today.
Three notes to this: The options were options for existing shares on the market, not an issuance of new shares. His tone was even clearer than his words that new share issuance is not part of any plan he believes will occur to his knowledge. He does believe their stock is undervalued and was not at liberty to state where he felt the pps should be after today's news.
Second, even with the technical factors influencing trading today the news was planned to go out, and had to go out, to precede this weekend's conference.
Third and finally, even though this weekend will be a presentation of final data at the UCal symposium, there will still be other underlying information to be presented to the medical community about this even after this weekend. More important, he clarified that this weekend focuses on Study DD901 only. He states DD902 is in the pivitol Phase III trial and although was very profesiional not to give detailed information, he stated they are encouraged and more information will be coming in the near future about DD902 as well. Overall they are getting the results they need, doing the right things and getting a good response from the medical community.
A conference call is set for 2-22 as stated in today's pr.
He said it would be worth listening to for anyone interested in the company. 1-877-502-9276 9am ET on Tuesday, 2-22.
Bo
