DCTH did the same thing and totally killed the rally
I agree that it can be a good thing, but with so many available shares they can kill any rally by issuing millions of shares, on a stock that daily average is not big anyways, it really sucks. And for the people who only think this is only going to happen after they get approval, your just plain ignorant, those shares will be flooding the market from time to time.
DCTH is nothing but pump and dump garbage that is soon to reverse split or be delisted. On the other hand DRRX is a real company in excellent financial condition with recent insider buying. Yes they will end up diluting some of those shares into the PDUFA date but it is absolutely absurd to think that this company will "flood" the market with these shares after already completing an offering recently. They know this catalyst run-up is coming and they are looking to sell some shares into the increasing volume and price appreciation. Comparing DCTH to DRRX is a total joke that I don't think even a lowly jester boy would find funny.
And like I said, that news killed the rally. Is this still going to climb? I think so, but now you have the threat of everytime it climbs that their going to start ringing up the ATM. $100 million is no small chunk of change and represents a #$%$ load of shares at these levels.
you mean the company believes the FDA rejection is coming ? and they thought its best time to get financing ?
now we all should think about the chance of the approval... not about financing since small cap bio do financing all the time whenever they get chances and its not really a surprise if you ask me... (especially in december since the management want fat bonus for holiday seasons, too)