Bruce could potentially take this private as he owns over 30% of the shares. Or, he could be working towards finding a larger pharma to buy them out.
I suspect the latter. Since Bruce bought significant number of shares north of $6, I suspect any deal would be at a significant premium from today's price. The price action the last three days is suspect for manipulation to bring the price down before a major announcement. The rise in PPS late last week may have been related someone sniffing out a buyout in the works.
Then, they come out this week and take the price down to where it all began.
Time will tell. The science if solid and HSP-90 will have a significant role in battling cancer.
Well said. I have been trying to calculate Kovner's basis as well. Its obvious he's positioning this trade for a buy out. I think the board looked at what he's done and then compared that to that SVP guy on payroll and fired him in short order.
100% agree with you. To me, the price action the last few days is a classic move of a larger fish building a position. News, data or something could be in the works and as with any stock, right when you think all hell is breaking loose and they are doomed the OPPOSITE happens and you realized you were played.
That little "blip" first of month is the part I always see on charts after the big spike. I ask myself, "....why don't I track stocks for unusual price movements on large volume that end up basing back to where it started?" Its like a small tiny piece of news leaked out ( I have my own small piece of news) and then the stock got back to where it was to start with.
Big games being played here. Big money at stake. To me, this may be a once in a lifetime opportunity to be in the right place at the right time. There is no way they are taking Bruce to the tool shed. He's one of the greatest traders of all time.
The person you are referring to (SVP guy) has helped drive some significant deals over his career...there is likely another story.
Kovner has been in the stock for well over 10 years and is the largest shareholder of the Company. I don't believe his cost basis will have nothing to do with the market value of a deal...when and if a deal gets consummated - it will strictly be based on how someone values the company or the economics. I do believe his continued support of the Company is imperative - he's a board member and largest shareholder - so I would expect this to continue to be the case.
I've been in the stock since 2008, but this is probably the most interesting time with regards to gaining clarity on where we go next...