Why did management initiate an ATM 4 days after an insider sold 100 k shares..?...The insider could not have known about the ATM ...if he had known he would not have disposed .So something happened in the period from Jan 19 to Jan 23.....which motivated mgmt to act vey quickly in anticipation of a steep rise in the share price very very shortly
My guess is that they have been informed of the number of events and it is nowhere close to 360....which might prompt the DSMB to unblind the trial before the 360 th event is reached
I cannot see any other plausible explanation....GLTA
A DSMB is not looking into XPECT at all right now. They did their pre-planned analysis back in August, the only one the SPA called for.
Ending the trial prior to the 360th event voids the SPA (even ending the trial back in August would have voided the SPA).
Other than the dilution it presents, I don't see the ATM as a negative.
It’s more likely their lawyer advised them they can't sell new shares into the market while sitting on non-disclosed material information that would affect the value of those securities. If they wanted to hedge their bets by raising money before the 360th event they had to do so before being noticed by the DSMB. It would be unethical and probably illegal to have been notified of the end of the trial and then to sell new shares into the market without first making that information public.