If Frank is selling, wouldn't it have to be part of a blind, pre-set sell order established months ago? As an insider knowing whats going on with the FDA, how could he personally make the choice to sell?? This would set him up for major insider trading violation. No way he can willingly sell during this period.
I tried to post a reply with a link but I think it got blocked. Frank didn't sell 400,000 shares but it does seem like he gave away (dumped) 404,000 shares according to the SEC FORM 4 filed on 2/13/13. Somebody else posted this information Wednesday night. If whoever received the shares didn't hold onto them, it could explain the big price drop on Wednesday.