Could the additional shares not be used as a poison pill in a time of weakness? If they really wanted the cash, and " insurance " they could have done an offering before ASCO
I'm thinking BK has been buying as many shares as possible at these low levels so he can reduce the cost of taking the company private.
If you want conspiracy theories, it is also possible he is trying to keep the price higher so that when they issue the new stock offering it won't be as dilutive. It looks like they may be able to get over $4/share if the price holds up.
Expect the guy to buy more shares below $5.