Obviously shorts are betting on earnings being bad, they are betting on exel to spend more cash. They are betting on no revenues. They are betting the drug will fail, and no partnership or buyout. What else to take it down on so little volume and all 100 share blocks.
Now is the time when a big buyer can spoil they party. Down 8% and can ride it all the way back with a couple million shares buys. I have never seen a stock so much beaten as this one. Too many shorts which are riding this thing both ways while Indivudual Investors gets the shaft for investing in medicine. This is uncalled for and hopes that some big buyer makes a stop to it.