I do not believe that the downward pressure on the stock over the past 3 weeks in any way reflects sellers trading on accurate information disappointing results will be reported in the upcoming ASCO presentation. Hedge fund titan Bruce Kovner is a major holder and board member (Chairman?), and undoubtedly calls the shots at SNTA. There is no way he'd tolerate leaks about the results that would undermine his holdings, and he has the power and means to enforce security. Doubters and short sellers are entitled to weigh publicly available evidence and make negative bets---that's what makes markets---but it's just their OPINIONS. My OPINION is neither the longs or shorts will know where things stand until the ASCO presentation, and that's how it should be, though rarely is in the corrupt world of biotech.
Hard to believe it won't be leaked before Monday evening presentation. It shapes up as a real standoff, with someone going home a big winner or loser. Water shed moment for Snta. Bruce certainly has a lot of chips on the table.
He's probably the same one responsible for the 2.5 million increase in short interest. Not because of bad data, but as a hedge just in case. Monday close: $6.55. Data will be so-so with a short pump and dump Monday morning fueled by market makers. No partner, no survival benefit overal equals flat stock until phase III data matures.