How did we get to this market Cap with superior data???
Tang Capital.... Tang Capital probably sold naked calls during the spike to near $8 late last year. They bought CYCCP (preferred shares), and shorted the common. Tang then exchanged the preferred with the company for a 10% premium and absolved the short with the newly acquired common shares from Cyclacel. Tang's shorting of common drove the stock down and rendered the naked calls worthless enabling Tang to pocket the entire call premium. Tang's actions set up a momentum trade downward in which other Hedge funds have perpetuated. In the wake of manipulation, Rombotis felt compelled to defend the stock and agreed to the offering terms in order to bring Eastern Capital (Kenneth Dart) and other institutional sponsorship into the stock. Despite all these events, CYCC has the best drug for elderly AML and RMDS and has multiple other constructs within their pipeline. PPS is not an accurate indicator of success in this instance. A huge buying opportunity has been created by this sequence of events.