Exactly, this whole company was a set up from the beginning. This was all scam for the CEO to cash in and make bank at shareholders expense from the news of the phase 3 trail. He knew the results were decent, so he timed the share dump to coincide with the "pop" from the PR pump and the news release. No secret why just 1 day, 1 single day after they announce the results of the phase 3 trail they come out and announce a 55 million dollar share dump into the common stock. This was all planned well in advanced, to dump shares into the massive volume generated by the phase 3 results so the CEO could make bank all on the backs of the new shareholders who were buying in.
This is also the exact same thing they did last year when they had results of their other drug trail coming up. They pumped it up before the results release by paying sites to run pumps on it, but the only difference that time was the results came out and they where bad and the stocks price per share tanked. That's what they are getting sued for right now with all these class action lawsuits. They did the same thing this time, only the results were decent and I am sure their hopes were that the price would stay higher longer so people wouldn't notice the massive share dump into the volume. That didn't happen of course and the share price is tanking and will continue to tank. I fully expect new law suits to be filed in regards to this current scheme very soon. Anyone thinking this is really a legit Biotech/Pharma is greatly mistaken.
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