"The other way to look at it, however, is that HR knew the data were not terrific on OS, but he also knew he needed to maintain the stock price as best he could through the financing that needed to be done, and thus his public statements on the drug were calculated to be as optimistic as they could be without being affirmatively misleading"
Hoyas. Doing the above was not sounding optimistict or not "being affirmatively misleading" -- it was a plain LIE. Most repetable pharma firms reveal luckluster results as luckluster and do not lie about it like HR did. Doing so in order to con some new investors to buy shares at inflated prices was plain wrong. He duped Jeffries investment partners and the clients they unloaded those shares to. The investment community will no longer trust NKTR management and its Board for allowing him to do that.
On top of that by doing what he did he conned many of NKTR's loyal shareholder, including your truley, to add shares at prices that were kept artificially high by his action.