Yes baffling price action. Best hypothesis is engineered short-squeeze by long hedge holders, aka pump and dump. Move it enough in the premarket to create a positive spin, assure multiple positive news articles, scare weak shorts. It's a real surprise after many years of seeing the opposite thing with this stock. First time for everything, I suppose.
Re: "I still can not understand why DNDN did not price a secondary right after the panel meeting. It just does not make any sense whatsoever unless there was a conflict between them doing that and Gold selling his shares..."
I thought about that too, but I think the right explanation may be the easiest one... that the company really was expecting approval and got greedy. Why sell a secondary at $15 when they could wait a month for $30? I am sure the shareholders would have screamed bloody murder if the company had gone ahead with a secondary between AC and PDUFA. It may have been the one time the management thought like shareholders, and ironically it did them no good.
At least it shows the management are just as bad at investing as I.
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