6.4% drop is significant, though I wouldn't call it a big sell off because the volume was average. Seems like investors just forgot that SNSS will present at ASCO and there'll be other catalysts coming up? Anyone has other ideas?
I know that Millenium will present and has a poster on the pan-RAF compound licensed from SNSS (MLN2480) but i still have not seen any indication that SNSS will actually present at ASCO. Maurice - the poster - claims he heard it on the last conference call but i only heard reference to the pan-RAF inhibitor licensed to Millennium. ASCO is not a forum for general corporate presentations.
Beyond that - someone was clearly selling today and i'm still trying to tease out whether it was in response to something we should be concerned about. Still not sure. It could be as suggested that this just part of SNSS's regular range bound trading pattern - not sure.
I think it's the same thing we've seen 4 or 5 times recently. They run it up to near 6 and drop it to 5, while slowly adding. They don't let it close below 5. It's drop on low volume and rise on high. Have you checked ownership recently? It just keeps going up and up. I'm especially encouraged by the Fidelity interest. Just keep the faith. Though nothing is 100% sure, I think we will be richly rewarded. GLTU