Replies to post #151702 on Biotech Values

[oldberkeley]

I am just wondering that if they had an inkling that the company was being pursued or had any interest in being acquired at that time, why would they have pulled the trigger on 6 million shares?

Because the sale was planned, that's the essence of the 10b5-1 rule. He set a specific date or price at which to effect a transaction; when that event transpired, it triggered the trade.

On another note, he's 70 years old and might be doing some prudent asset reallocation, plus he still owns 3 million shares.

Everyone on this board has heard the cries of “Buyout, buyout!” from shareholders of small biotechs when one of their execs happens to get on the same bus as someone from Merck or Pfizer, and I didn’t mean to add to that silly chorus. There's probably nothing more to yesterday's filing than some contractual fine print his attorney wanted to clean up.