States that ASTX wanted or needed a pop to the stock. I believe with the $14M payment fast approaching and the dacogen generic impact, Dr. Manuso was desperate to not see this fall back to the $3's. The hype here has been more than over the top. Why so much hype?
Could we see another $300M in market cap vanish into thin air. Best part, why no data on survival? Maybe Dr. M wants to go, what better way then exaggerate and get your walking papers with a nice severance package, while they still have $135M. He missed completely on CLIMB technology and in two plus years of taking over ASTEX, they haven't found one new single fragment. Not one compound in two+ years.
This stinks worse than pumpettees at 3am flooding message boards the stock was headed to $15. Last question, trial of sgi-110 has been going on some two years, they can only enroll 17 pts up to now for data? The forth quarter is going to look bad, but first quarter numbers are going to be real shocker when they lose more than $30M.
Maybe Astex has a buyer who was willing to pay a premium for this company, but knew it's shareholders wouldn't go for it without seeing something interesting. Dr. Manuso maybe wants $10, to get that premium, he would need to dangle a carrot. The timing here is questionable and something was necessary for them to release this data early.
Dr. Manuso over the years hasn't been the most honest CEO. I recall having to write him twice about his claim that amuvatinib allowed a patient to go back to work. He kept leaving out how that patient had past away shortly afterwards. So this would not be the first time Dr. Manuso bluffed about a compound.
This could be desperation as Bucket posted or a clever way to get the price up higher to unload. Why they needed to release early data is a huge question mark. Sold half yesterday, trying to make sense with the other half.