There is an ongoing $50,000,000 ATM program in place. That is a lot of shares worth of dilution which could easily overwhelm the buying, if any, prior to the PDUFA. Take a look at how little the stock rose headed into the Peri Phase III results 2 years ago. The stock was kept well in check by Turpin’s heavy handed dilution right up to the company’s fatal announcement that the placebo performed better. This company is all about dilution, and it never lets the stock run up without skimming off for themselves.
Then there is that little fact that the company struggled to get the NDA filed for years. And that those most responsible for the eventual filing were fired not long after the filing. What did the company discover after the filing at would cause them to react in such a way? Might be worth a moment of anyone’s time to look back on all of this company’s past failures. He who ignores the past is forced to relive it. And who would ever want to relive this company’s past as one of its investors?