That's because Novartis hasn't taken the option yet. Institutions and big funds won't commit bit capital until it is final. In other words they will not enter until it is announced that Novartis takes the option to license Emricasan.
Once that happens in Q2 after CNAT starts the phase 2b LC trial then we will see early teens in stock price IMO once funds start loading up. Again, that won't happen until Novartis takes the option to license.
the lesson being learned is that the pro's trading bio-tech see announcements as a way to make money shorting. They know that bio solutions take years to develop.
What Bret Jensen did on seeking alpha was to point out to his thousands of followers is "please help my short win". He even repeated it Feb 2nd.
Bret Jensen, Premium Contributor Comments (16151) |+ Follow |Send Message Author’s reply » That is why you have to sell out of money calls on big portion of holdings when you see massive and quick spike on a small cap like that. 02 Feb 2017, 05:54 AM Report Abuse
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