So why are fund managers selling out? Obviously they will take it down far enough to make a profit again on you bagholders. This stock is far from its lows. If you think that 6 Phase III trials doesn't cost money, think again. The Company needs lots of cash, if not now , later for sure. Their PIPE financing deals with Deerfield will hurt the PPS even more. They will short this stock down a lot more than before, because that is how they make back their money. They could trade up and down and don't loose a dime. Get real my friend, ARRY needs lots of cash.
Actually, the final determination factor would be its drug sucess. With any of these 6 drug sucess would sent it to a high price. In big pharm, Phase III sucess rate is 60-70%. Oncology drug could be litter lower. This will count for 3-4 drugs that will be successful. you can image what a company ARRY will be.
Also, all the Phase III trial drugs are partnered; the trials will not cost ARRY anything. In addition, the two proprietary molecules, 520 and 614, will be reporting as ASH in December. And in addition, there are drugs indevelopment partnered with Celgene, Genentech and Amgen. And even the partnership with Oncothyreon might turn up something good. Plus, the decent results shown by ASLAN with an ARRY drug might work into something worthwhile. But the balance sheet still remains a problem Squarer still needs to shore up the balance sheet and that probably means another capital raise before the end of the year. Nonetheless, I still consider this stock the most compelling buy in all of small-cap biotech. But you have to be a bit patient.