This is not normal behavior of a denied status. If Denied it should be 80% down like in 2011. I think the average investor got scared and sold due to the delay. I think ALIM has the news of approval and is holding onto the news until after market hours. In 2011, the news came out at 12noon and in min, it was halted and then down 85%..... My guess is this has been approved, I hope so at least. I have many options to exercise.
I think for what it's worth that you may be correct..,This sell off in Alim and Psdv which is now reversing is a classic clean out the stop losses play before hopefully good news is announced
after the close or early tomorrow. For sure noone can say this day has not been nervewracking though.
Institutional and fund ownership 37 % Float about 22 million shares and only 380,000 shares have traded....Yes I would say that the big boys are not running for the exit......more likely the poor schleps
who though they would protect an insignificant gain and wound up losing shares that they have owned for 6 month -1 year