i think a lot of those short shares are from hedge funds playing both sides so i doubt we will see a substantial move from the short covering. i do think it will decline but not in a mass rush.
if you look at the price when this litigation was announced and consider the impact of not only $12.8MM going to the bottom line but an injunction against their only real competitor - i think the price will rise closer to $15 on this development. the last two quarters have been solid for CPTS and they sole key reversals in doctors coming back to Essure who had been entertained by Adiana.
doctors going into training dramatically increased last quarter and more doctors were shifted to the office setting. all good news. we should see effects of last DTC campaign in the current quarter to be reported.
still an uphill battle in the legal arena but this is a substantial victory for CPTS long term