The problem is, Harvey has been saying for almost two years now they would be funding '534 with a partnership along the same terms as the '573 deal, which in turn would fund solid tumors etc etc etc. So, you had institutions trying to "get in" ahead of that news.
Now Harvey dilutes (again), and continues onward by saying to investors (like he did with '573), that Ariad will not give any rights away in the USA, and only seek an outside USA partner.
There is really no reason to buy Ariad now IMO. What's the imminent reason to buy this company now? Harvey telegraphed to everyone that nothing would be coming from this company til at least Q1 2011 now. And, '534 will not be "newsworthy" until 2012?
Makes me want to re-evaluate holding this stock, because now its even more of a diluted mess, the CEO is a disgraceful man (cannot be trusted, for a second), and I think the stock may very well be a flatliner for months (especially with year-end tax situations, and, IMO, this thing is WAY overvalued if the Bernanke Shell Game comes to an abrupt halt).
