Biotech Values

[DewDiligence]

>Could this account for the sell-off in COR? I don't pretend to know how to read it. Is it merely a filing with intent to sell, or is it a confirmation of a sale?<

The form is not confirmation per se of a sale; however, the only reason PIPE investors would update the information in the PIPE prospectus (what this SEC filing does) is to be covered for a resale of their shares in the open market. Since the SEC filing is dated 2/28/04, it’s a pretty good bet that some of these shares were sold in the past two days.

By the way, these shares pertain to COR’s 3/2/04 PIPE. COR has executed three other PIPEs from 2003 to the present.