Institutions have bought around 18 million shares over the last nine months. The purchase of the last 12 million shares repositioned the price at less than $10.
The buyers of the 6.9 million shares in the recent offering can book a swift 20% profit if they sell for around $12. But they may have considerable trouble finding enough buyers for that sort of volume.
Those recent buyers will surely not be expecting any serious demand for shares any time soon, and will doubtless be looking to jump the gun on one another rather than risk their investments being dead money for the rest of the year.
Who can we (or they) now expect to accumulate the volume of shares necessary to outweigh the profit-taking from the recent offering - in order for the share price to move higher?
I would expect a run up in anticipation of EMA approval for CF as well as accumulation in anticipation of positive NTM phase 2 results.
FDA feedback on those NTM results, and FDA guidance on the possibility of CF approval based on the current EU CF and US NTM studies could also provide a pop. Other wild cards would be unexpected licensing or partnership opportunities.
Ultimately, revenue will move the share price. I'm patient.
Now that you and your alter ego "Michael Cohen" ID have combined, you've turned into a brand new incarnation of Hi-lee evolved. Did it ever occur to you that the massive demand for Arikace could be completely waisted by a lack of preparation to supply? That preparation must happen now, not later. Billions in future revenue is at stake. Will Lewis know what he's doing and a multi-billion dollar valuation will be the pay-off. And you're not going to have to wait several years!