Most likely someone has already discussed but I see some form 4's on SEC showing insider selling. Looks like one just came out today that shows VP selling a good chunk at 9.95. Is this perhaps why stock dropped?
These are pre-planned sales. They were required to set these up a long time ago. They can't cancel them now, otherwise it would be benefiting from inside knowledge. I guarantee you, none of them are happy they can't sell at top dollar! There will be more of these in the future, as they were required to set them up this way. Shorts are posting this #$%$ to scare off people and make them sell. Others who don't understand, will sell off because they haven't done their DD.
Read about SEC rules on preplanned sales...These sales were in motion long time ago....few got executed few weeks back in $7 range.....You think the insiders like to leave money on table for charitable reasons? they are probably #$%$ that they had these preplanned blocks now selling at bargain prices....They probably timed them to 45 days and 60 days from April 15, the original FDA date and hoping for windfall....FDA delays the decision and now their blocks are being sold off. They cannot cancel the trades now.....
I can read just fine. Yes I always look at the little green numbers and their explanation when looking at the 4's. You do know they don't have to sell and can cancel. Oh well I am long through 2016 so no big deal for me.., Jan 1st 2017 will see where we are at and decide. My guess is north of $30
Im a insider with cheap options granted to me. I preplan to sell my shares and Im gonna pick a crazy high price that probably will never happen cause I don't think its ever gonna go much higher than that price. ITS CALLED SELLING AT THE TOP. You guys always use the preplan sale as a BS excuse when there is insider sales. No matter how you read it or whatever the reason for insider sales, they sell at the highest prices with the expectation that the stock won't go much higher than their preplanned sale price. They didn't cancel trades because they were very happy to get the prices they got, not because the fda delayed their decision. Keep looking for bs excuses but beware when insiders sell no matter what, Especially when its serious volume.