"They are liquidating into the hands of Roche for a buyout per their organized agreement that we will soon be privy to.
You have to understand the history of Charles Waite and Orbimed. They are the venture capitalists who dumped millions, maybe hundreds of millions into GNOM for several years before it went public.
As the company is now coming to an agreement with Roche, Waite and Orbimed make these side deals with Roche so they can acquire significant chunks of stock without sending the stock price through the roof a la ROSG. Then they can acquire a smaller amount of stock on the open market after announcing the deal. In the meantime the stock price remains low where some of the stock acquired is from Waite, the rest is from poor longs who gave up too soon. Waite and Orbimed win because they will probably get some sort of payoff in the end for their compliance either monetary, cushy GNOM leadership job or otherwise.
Look at the volume yesterday. Orbimed's dumping coincided with the heavy volume we saw just after 11am. Where else could they have dumped 500K shares above $2.50? Do you think they just lined up a random person with a spare $1.2M in their pockets to invest in a company that's about to head to sub-$2? Or someone in the know who wants in on that technology? Not only did that entity who bought the Orbimed shares put in $1.2M, they doubled down, buying another 400K or so which took the price up over the $2.70's. Things that make you go hmmm."
This comment was in response to the insiders Orbimed and Charles Waite selling their shares. Referring to the NASDAQ filings, every other insider listed has purchased shares.
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