Everyone expects that he coordinates somehow with short interests, so it’s unlikely a surprise, and he typically posts believable false information in reputable rags. But the reality is, he cannot prevent approval or regulatory events that he appears to, as a personality flaw, need in order to prove ‘he is right.’ He will say and do anything to ‘prove’ it, but the only thing he can do is temporarily affect pricing. Other validating events literally can outrun him and have done so after approval in the past.
Consider Celator (CPXX), which he dogged and threw his hate upon, selling at $1.50. FDA approval dropped and it went to $11–12. They did a financing and it dropped, as expected, and then JAZZ Pharma bought it at just over $30.
Not making price comparisons to here, as they had a smaller float and that was a relatively small buy at just over $30. It was also a much smaller opportunity in terms of cancers and applications. My point is primarily that Adam works hard to drive these companies under and to do damage because he psychotically believes in his own BS and, because of his ego, but also, many suspect, because his sources for other articles keep him in line.
I will note one difference: on approval, he went quiet and pretended he was never really against Celator. We may see something more like this behavior—or not. It doesn’t matter in the long run.
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