It would be nice if the company found a way to pound the shorts to oblivion while simultaneously finding a way to strengthen their balance sheet and increase market interest and value in NAVB.
If they were to sell 15,000,000 shares in a secondary offering to a large institution at 3.30, this would work well. With 4 products in their pipeline, the company is well worth this price.
Selling 15,000,000 shares at 2.40 would not benefit anyone (except the company for the cash that it would have to work with) - and the company company would be short selling itself.
The European Partnership is taking longer than I expected, but this could be a good thing. If the company is able to get $7 million up front on the deal, that should stall a share offering for at least 9-12 months. The Head and Neck data could (and should) be a huge catalyst. Lymphoseek sales should be approaching $10 million to date 9-12 months from now, maybe $14 million.
What do the shorts really think they can accomplish here long term? A few small investors with small positions seem to throw their shares away everyday. Fine. They are inconsequential in the long term.
Institutional interest is now greater than the short interest, and the more shorting that goes on, the cheaper it is for institutions to accumulate NAVB...yeah, the shorts do seem to be trapped...like DDbuyer says...the stalemate will end eventually (and not in the shorts favor).
As usual, the next short interest report should be interesting - and I am expecting it to increase by more than 175,000 shares this time...and has anyone else thought that since we only saw a 175,000 share short increase last time it could mean that some shorts were aggressively covering last time around while other shorts kept at it?
GLTA.
