robwilly, most wealthy individuals are feeling a pinch, as their portfolios contract and interest income declines. And the La Jolla financing will bring in much more cash than a few hundred thousand.
La Jolla has a decent reputation (unlike Cornell); shorting on their part would be inconsistent with past behavior. And the agreement puts a floor of .38 in place, so even if La Jolla were inclined to short it would make no sense below .38.
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