Someone who I had recommended the stock to (before the 2302 debacle) called me and told me they tried to trade it today but it had been suspended. The reason given by the broker was that the company had been sold. Sounds like misinformation to me as the stock appears to be trading now.
The large blocks were actually sell orders. Most large institutions have given up on ISIP. This is evident from the decreasing instituational ownership over the past 9 months. They are now taking advantage of this opportunity to sell remaining shares. A good example of this pattern is IRID. (Iridium is now in Chapter 11 and trading on IRID had been suspended for some time.) After institutions abandoned it, it plummeted to $9. Then it went up to $13-17. After that, it slowly droped to $3 before going into Chapter 11.
Just a word of caution here. Yesterday and today's large volumns were a result of retail interests, rather than institutional interests, as evidenced on L2 records.
Last wednesday's Wall Street Journal had a comparison of biotech companies and listed them by the number of patents. ISIS was ranked third (trying to recall from memory the other top contenders were Amgen, Biogen, and Genentech but they are all giants compared to ISIS). Aren't those 180 or so patents worth anything? Inventions usually tend to go strange ways after a few years. Also if one of the giant biotech companies wants to look more sexy in innovation to their shareholders all they have to do is to buy out ISIS and they get on the top of the list in number of biopatents very cheaply.
For that reason I would expect that sooner or later ISIS might be bought out. Any comments?