The S-3 is an offering to sell $30m worth of new shares. CYTrx is offering some of their RXI shares as a secondary offering.
Kriegsman watch Sold 5,500 shares on 5/5/09 for 4.18 a share Sold 4,051 shares on 5//6/09 for 4.42 a share At least he is down to 77,322 shares now.
If a BOD member is dumping at these prices, I don't understand why anyone else would be rushing to get in. I guess once they get the $30M in cash, that will be great, but what price do you think they will sell at.
If you really like the technology as I do, just wait a while before you buy.