The sell off on Monday 07/18 started after a a PR from Biocell the biggest shareholder of PLX 17% as Biocell shareholders asking for a liquidation and receiving directly the shares of PLX. traders/market don't like drama; definitely a good buying opportunity Read the article here bit(DOT)ly/puw6xS
interesting situation. ZGEN was recently acquired when their largest shareholder Novo decided they wanted out. Maybe Pfizer, or another large pharma will buy that large position? If not, liquidation (or the fear of) could put price pressure on the stock.
It didn't sell at all, it's only an argument between Biocell and their shareholders. This news is only for Biocell, but as it's the biggest PLX shareholder, it makes a sell pressure from the investors as the market don't like uncertainly and clarity... Today, every one knows what it's about, so we can see the buyers back to PLX and the price will move p again as the main catalyst is the NDA resubmission