+++They probably want to avoid any appearance of impropriety with the options even if they were exercised
I don't think impropriety is an issue. Insiders would have sold shares to exercise the options/warrants whatever...irregardless of the IND approval. There is still the chance the FDA could question Tarvacin and not remove the clinical hold on this latest resubmission, the FDA could have ruled today or perhaps later this week. It was a good green day on the market for selling. I suppose they [sellers] are timing the selling with market conditions so as not to put too much pressure on the PPS.
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