Replies to post #194739 on Biotech Values

[biomaven0]

>>When two insiders failed to cancel their 10b5-1 selling plans (

If $ARIA is truly in play, why didn’t these insiders (legally) terminate 10b5-1 plans?http://t.co/wVjZqmQJ17http://t.co/MdGrMyHwAy

— Roy Friedman (@DewDiligence) September 1, 2015

), it was a pretty strong signal that a buyout at a large premium was not imminent.

How many mergers have there been and how many terminations ahead of a merger? I know of only one (IGEN/Roche, a long time ago).

Terminating ahead of a merger doesn't pass the smell test even if it might be legal. Certainly the SEC has said that terminations might cast doubt on previous sales under the Plan.

Peter