Baird is being rewarded for being first on board. And perhaps a message is being sent to other firms that their attention in the form of coverage might be appreciated, and rewarded down the road.
Dendreon raised $47M in April 08, BEFORE phase 3 results. THEN, raised $221M in May 09 AFTER initial phase 3 results were presented. Are you THAT stupid to claim Conroy is not confident in the data?
Stock is holding steady and should end the week higher as more investors pile on board. Better buy back in after selling after hours yesterday, loser !!
There was no "lie," and there was no commitment not to have an interim fundraising, which is what this is. There will still need to be a fundraising after validation, as this one is not large enough to finance the registration trial.