Over the last year or so BVF has sold down their enormous holding in Arqule and are now out. Possibly the fund that held those shares had reached its maturity or something else had changed at BVF, but they obviously did so before there was a clear result on whether the Arqule approach to cancer is likely to show results. BVF bought from $2 all the way up to $7.75, so they probably made some money, but not a home run by any means.
way back when Hill was CEO and he did a public offering (07?), BVF bought a good chunk at that time at about $7. They unloaded big time last april when initial results were published. As you say, they also bought significantly at much lower prices. I don't get it! but then two large pharmas and a CEO walked away from EXEL right before it exploded upwards...
Pucci and Swartz are doing well here I think...would be nice if there were some near term catalysts but my guess is we'll need to wait until closer to end of year.
as a very long time holder of ARQL, that is surprising news. Just when the rest of us are seeing a big opportunity, BVF a long time holder, thru thick and thin, has baled out. I thought they would have retained some position...what are they seeing that the rest of us are not? or did they have to bail for other reasons? who knows.