financing, hit out of the blue, just as the stock was ready to move into 12s. Much too big a move to the downside though. Something else is going on, I read somewhere, can't remember the source, that big Pharma has no use for the filter... if this were a pill it would be at $25 right now...
The rally got killed clearly after the announcement of Dr. Chan.
As we all remember he has done it twice. The first time we went above 11.20 the management sold aggressively and poorly ATM and we dropped to 9 bucks and change that day.
It took the stock a while to go back up. We finally manage to set a new multi year high. Dr. Chan came with the Axe again and we never looked back to 11.50 since.
I am as frustrated as everyone else on this board and it seems we have to wait another couple of years before we get rewarded
Fantom-When a company does a secondary, the current shareholders hope they get placed into strong hands. There is a game that's played between Inv Banks and buying institutions. The more the instit helps move secondary shares, the higher they are on the list for next IPO allocations. Our hope was that the shares went to strong hands if not it puts secondary share pressure on the stock price as shares are puked back into the market. Our stock may have gone to weaker hands as they only have a short time between announcement and placing. The fact that they sold an over allotment i hoped indicated strong placement, strong demand.