I wouldn't buy into a spike on 20,000 shares unless it was sustained. Too many daytraders and computer trading systems. BUT, anyone who looks at book value on a biopham is not someone anyone else should take any advice from.
Potential, need to raise capital, pipeline, etc, are variables for a biopharm, not book value, but then again, you probably do know this and your pants drooped when you saw the spike pressuring your short shares.