Biotech Values

[Summer2762]

i assume many shares were sold earlier and covered by offering

This does not explain the recent increase in pps. If shares were sold to be covered after the offering, the pps would go down not up.

I should buy a book on the subject to understand the mechanism of the secondaries. Any suggestions?

Without any specific knowledge, no hedging requirement seems a plausible explanation. However, it requires the inference that some people knew that this was coming.

How does someone participate in such biotech deals? My broker (ML) was clueless about OGXI and how to get in.