All of the June transactions are insiders selling, so we have insiders selling the week before news, the day of news and the day after news and the day after that and the day after that. Selling by insiders is not a good thing. Not good at all . . . . .
This is getting old, although I can understand why the novice investor, who lives and dies by each trade, would get stressed by this news. All I can say is that you need to put in some footwork. If you research and compare to other small cap Bios, such as SVNT and DNDN, whos share prices have shooy up quickly, you than will see the pattern. SVNT, and DNDN both have also sold enormous amounts of shares this month. And that is just two companies. Many more have done the same. Since March the Bull Run has quadrupled tghe PPS of virtually everything. They are profit taking.
This question has been asked and answered *at least* 20 times in the last couple of days alone. Look at the history. Insider sales and purchases are done on specified set dates sometimes months in advance. The original estimate was that FDA was due to approve/reject BDSI on 15th June, and these insider transactions would have been timed to come in just after the decision, had it not been delayed.
They expected an approval, and entered these sales months ago, not knowing the decision would be delayed. Think about it. These are not sales based on current known conditions - they'd be thrown in jail if it were.