he was close to having a major deal done and he bought stock in front of it.
Your insider trading accusations towards Conway are uncalled for IMO. As ghmm noted, Conway initially bought nearly three months before the deal was announced and subsequently added nearly two months before the deal was announced. How can you say a deal had been finalized, or even in the works, that far in advance? How do you know it didn't transpire effectively a month prior to culminating in a formal deal?
More importantly, let's look at Conway's prior history of trading in ARRY. I don't think he has ever bought shares in ARRY before on the open market. If he were the type to trade off of inside info, he would have presumably done so prior to the big partnership deals with either NVS or AMGN, both of which were much bigger than the Genentech deal just announced, but he did no such thing.
Moreover, why would he think this smaller deal with Genentech would do something more material to the stock than the larger NVS and AMGN deals, which didn't really have a transformative effect on the share price?
All told, maybe his actions were just for show. Or maybe it's related to the simple observation that the Phase 2 MEK combo trial in advanced melanoma patients has been ongoing for much longer than what would be expected to be attributable to the DTIC-only control arm (#msg-66288817 ). Or maybe there's some other reason. Who knows, but I think your insider trading accusations are way off-base.
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