No I didn't ask him about financing, but he did say it may take a few more months to get all the patients enrolled into their trials. -- not sure which ones.
I am also suspicious about the price run up as an opportunity to raise funds too. Some fund (one of the institutions?) started to dump yesterday, and continued throughout today. Maybe they sensed that a financing could happen.
5/3/2006 4:00:07 PM Biotech Stock Research comments on the price action of ZONA 10.50 -2.20
The newsletter notes the action in the shares over the last two days saying there really isn't a good reason for the drop. BSR does mention several rumors including a potential financing and the delay of data. After speaking with the company, BSR says talk of a financing is not true. With regard to a delay in data, the newletter notes ZONA said on Monday data would be seen in Q4, inline with their estimate though potentially later than what the Street had anticipated. With regard to the liquidation of the Biotechnology Value Fund (which held 560K shares) BSR says the fund had sold their position prior to the drop in the stock price though the thought of liquidation persists in the market and may be the cause of some of the panic selling. Nothing fundamentally is seen as having changed with the company.
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