Lat time they raised cash - the PIPE was done at a 10% premium - which was unusual. I suspect if they don't get a partner raising cash will be pretty straight forward witht he same guys that bought last time. I don't understand why but they seemed to have some deep pockets that don't mind throwing cash at the company.
I'm in no rush to buy back into it, but I did see the complete response as unusual, I'd be curious if they can get multiple in a study with a few 100 people rather then an open lable with just 34 patients. No data expected from that until LATE in 2011, so no real reason/catalyst that I can see to rush in until after they get some cash and only if valuation (based on net cash) becomes attractive.
But ASCO has been a total SELL THE NEWS event as we expected, with almost all early gains evaporated in a few hours.
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