I agree with your view, however ATM financing is normally considered by most as a "bad thing" associated with a company in trouble so your reference to bad news pending such as a failure of some sort (Alzheimer Data?) might be a reason for the short sellers to step on the neck of Anavex Life Sciences Corp
...but I do believe that Chris Missling has a reason to protect the outlook for the share price..........
Why?,,,,,,,,,he has 500,000 low strike options @$1.67 which must be exercised in the near future (July 5th).....this might be a good time to "do a deal" before releasing some good news albeit he would have absolutely NO problem with the SEC if he exercised and became a shareholder (like us) at any time! He is allowed to exercise those even before or on the day of 8K information of a material event...that is a FACT