AVANIR PHARMACEUTICALS (AVNR)

[cosmicschool]

They DEFINITELY have done selling near term and the only reason that they sold nearly 9 million shares was for 2 fold reasons
a)To "Take Some Profits" of the table, as they are a Venture Capitalist Firm and the only reason they invested in this start up biotech was to make profits and your "Paper Profits" don't become "Actual Profits" until you sell the stocks.

b)THE PRIMARY REASON why they were forced to "Take Money of the Table" was to enable them to "Exercise the warrants", which were given to them in 2008. And since the clause outlined that they could "Exercise" the warrants only if they could keep their holdings under 19.99%, they had no other option but to "Take Money of the table" by selling their holdings and then "Exercising" their warrants.

We should see a "Steady" increase in PPS over the next 6-8 weeks and should be close to 10$ by the end of the year or at least by January 31 2011.

Cheers!