Without news, I am guessing that the company is planning on raising equity and some big mouth bankers are leaking it and driving the SP down ahead of it. I surely hope that I am wrong and wish that these companies would just use the Celldex/Canter Fitzgerald startegy of selling shares quietly on an ongoing non-underwritten basis when the share price is over a certain threshold (say $5.70 for ARRY).
They do have an automatic sale of stock in place, not sure of price restrictions etc., but there are still plenty of shares in the ATM program. No secondary for at least 18 months at current cash burn rate, and they might just renew the ATM program down the road. Funds are stealing shares from the average investor creating frustration holding this dog. I think it stays weak until DEC., and we see no real price move unless a buy out is announced. The real catalysts, phase 3 results, and drug approvals are a few years out. So the stark reality here is Arry is a dead money hold for no less than 2 years, or a buy out, HOPE I am wrong but that is picture painted here.
Do you believe some positive data at the ASH could give a nice boost to PPS? Im not talking anything drastic but this seems like a slow bleed at the moment, could be a potential short term catalyst. Also, the CTO still makes me think they may have found the partnership they were looking for which could provide a small term catalyst as well