Blum is gambling with other people's money that he can raise a big chunk of capital and participate with AMGN with a hoped for larger share of the pie. Remember that AMGN's decision makers place a high bar to committing to an expensive Phase III trial. Those on this board who thinks it's a slam dunk also thought the recently release data would be a home run(not so).
The data was favorable and there is no doubt Amgen will stay for a Phase 3. The dyspnea is a red herring as no one thought that dyspnea was a good criteria over the short time. The big success was the very minimal increase in heart failure (troponin blood levels), which was a fear going in. Cardiac output was increased with a slowing of the heart rate (very good) and increased output volume. Once they present in the USA later this month the truth will be well known and the SP will recover nicely. Some are getting in at very low levels, but when the SP is $50 it won't make much of a difference except to those who like to brag about the insignificant.
Right now sitting at $1.366666666 PRE-R/S....I am glad I sold at $2.06. Not a nice trend here. That 6/1 split really kept it from getting it delisted. Missed the chance to see $4 or higher. Heck! We may still see $30 BY THE END of 2014, if RESULTS are considered a blow off to Novartis heart drug.