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Array BioPharma Inc. Message Board

  • bladerunner1717 bladerunner1717 Sep 17, 2013 12:03 PM Flag

    Deerfield shorted ARRY before offering

    According to the SEC, Deerfield Mgt shorted stocks before offerings they also participated in... one example (below) is ARRY, others include GERN, SGMO, DSCI, TEAR and PODD.

    Quote:During the period from February 2, 2012, through February 8, 2012, Deerfield sold
    short 1,417,818 shares of Array BioPharma, Inc. (“ARRY”) during the restricted period at an
    average price of $3.10 per share. On February 9, 2012, ARRY announced the pricing of a followon offering of its common stock at $2.60 per share. Deerfield received an allocation of 1,000,000
    shares in that offering. The difference between Deerfield’s proceeds received from the restricted
    period short sales of ARRY shares and the price for the 1,000,000 shares received in the offering
    was $502,576. Thus, Deerfield’s participation in the ARRY offering netted total profits of


    Sentiment: Strong Buy

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