Wow, what a week! My interpretation is that the capped-call transactions, shoring up of the balance sheet, and entrance of Allergan as a potential suitor have led to a sizable out-performance in this stock.
Amazingly, anyone who purchased the convertible in the past few days is already able to convert! That represents 4.4 million new shares, or about 10% dilution, and makes the move of the past week even more remarkable.
Granted, the capped call limits the dilution. I am still trying to make sense of it, but my interpretation is that the company can buy back the shares above $80. Is that correct? Can anyone explain it better?
Also, does anyone have any sense of whether institutionals are apt to convert so quickly?
Hope it hits 80 so I can short it to 20......vinegar works better than this crud
ANAC is just moving with the rest of the bios. IBB would be much safer to play imo. I think ANAC's crisaborole is going to be much smaller than expected considering all the competition coming on. Crisaborole PIII results really are not much to get excited about when an over the counter ointment, TrueLipids, had 81-87% improvement when used twice daily in mild atopic dermatitis at two weeks...no prescription required.
As predicted last month, we are going to bottom out in mid-40s. If somebody wants to buy on a further downturn, sell some 45 and 50 puts.
See, it went away that quickly. Buy again and repeat. Baker Bros paid way more for this stock and will have to pump it back up or lose big time. Day Trade because the crooks are in control AGAIN. SGEN ran up seven bucks in 5 trading days and lost $3.00 of it today also on the Baker pump and dump. One of these days people are going to wake up to this scam but until then-buy the dips and sell the rips.