I dont want to sound like a basher, but I dont see the sense in taking such an unnecessary risk on this aria, this is NOT bottomed if the FDA doesnt approve...they could issue a NON-approvable letter just as ALXA got last week, and then it is either bankruptcy or its back to the drawing board for significant amounts of trials. ARNA has alot of debt, if they get called on it they are done and dead.
If one wants to play a K or something through it might be a different thing, but to play a "ton" on something you know damn well is going to get a CRL Friday (or earlier) is just insane. Even if it gets approved now you will have plenty of time to get in and reap the benefits of billion dollar revenues as funds will need to PILE into it from the dollar level.
Good luck to anyone doing it, I wouldnt short through either, but its just like YRCW people stubbornly trying to fight the downtrend there...it isnt a smart way to manage large amounts of money....
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