Over 2.8 million shares short and the numbers keep growing by the month. Who knows something we don't know? This is SUICIDE! To be short at these levels with the PDUFA date now 3 months away is incomprehensible. If the stock was at $6 today, that would be one thing. However, we're only 25% off the 52-week low...there is much much more upside to this stock now -vs- downside.
I have no idea what's going on....but it's the possibly the dumbest thing I've seen biotech investors do in a while. As has been repeated over and over, this might be the most remarkable short-squeeze in history.
I don't think anybody knows more than us. The background looks simple: the phase III trial is not very good, but has chance to get FDA approval. No matter how many shorts here, if you have confidence on it, just hold and wait for the result. Like ARNA, most people thought it was over, but now, see its performance.