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Incyte Corporation Message Board

  • tjnelis tjnelis Jun 6, 2013 5:53 PM Flag

    so the question for JAcosa is this

    if the senior convertible is all gone , and these were the ones holding the short interest as you say, it still appears that there is 20 plus million shares of shorts, so do they still need of the buy to cover to exit their postions?

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    • I don't know the mechanics. Yeah, over the next month a lot of the short interest should go away because of the conversion Except that there would be no reason to free a company in this position of long-term debt AND effectively pre-pay interest on the debt if you were planning to just manage things into the future. Something is going on.

      The inputs I can see are the newish drug candidates, the by-indication exclusivity deals with Lilly and Novartis and Dr Paul's desire to show that he's at least as good at business as at drug discovery. I can't guess what comes out.

      Since the negotiated conversion by itself would be a silly move, I have to believe that the stability of the stock price means that portfolio managers expect something to happen soon that gives an explanation.

 
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