Unreal. I got out of what turned out to be a bad "investment" in ACAD for me and I should have
seen the warning signs there. All of the insiders were happy to get free shares. Not one insider
bought a single share in the open market. I'm sure this is true of many fledgling bios. I have to think, other than Al Mann buying a zillion shares in his own company, that the insider buying and the options exercising that has been going on here is VERY unusual for a small bio.
I cannot think of another small cap biotech where serious insider buying has happened prior to a significant news event.
More often, you see the EXACT opposite. You see insiders selling ( with the standard excuse it is preplanned) and secondaries.
In my opinion, secondaries before major milestone events are a big red flag.