The current ATM is set for a maximum aggregate amount of $16M, so it doesn't matter how many shares are sold as long as it doesn't exceed 10.4M shares or average >$1.5385/share for that many shares.
Also, it must be completed before 8/15/1012, which is the ending date of the July 2010 $85M shelf from which the current ATM is drawn. (BTW, there was ~65M to $70M left on that shelf prior to the current ATM supplement).
In the past, the company has simply sold ATM shares as need to obtain funding for various operational and other needs.
People may want to get over the "ATM stigma/phobia", it's how funding is obtained. Preferable to going into debt, imo.
Try to understand that advancement of AEZS pipeline requires millions upon millions of dollars, and until significant earnings begin coming in, other financing modes are necessary.
You're exactly right Centoh. It's $16MIL irrespective of how they get it (share price/shares). Allows you to control your own destiny rather than having to enter into a bad financing arrangement w/ terms that you don't dictate. This will be a long-forgotten subject shortly. This company is talented w/ a deep bench. We only have a short time to wait on the PIII results, which I'm confident will be good to great. I've been telling you to back the truck up for some time now, and the window for being to do so to any significant degree is quickly closing. I'd strike now and add as you are able. Up and to the right.
Just speculating here, but it would be interesting to see if the closure of the shelf in and of itself, with that much money left on the table, would be a catalyst for a further rise in PPS. It would be a sign that further dilution would not be as simple as issuing a new ATM. I'm sure that shelf offering took a significant amount of planning.
They are selling. This isnt about higher prices and seeling less. They sell to pull in mor emoney.
Last time the CEO said he didnt need to sell anytime soo, and in 45 days the ATM was sold out. Soon meaning that day, lol.
So let them sell, with todays volume they couldve easily sold right in the run.
Is that what's happening with Kerx too? I don't think so.
As for AEZS the volume the last 3 or 4 trading days has been double the ave.
The rise is due to news and the lenght of the trial, plus I think institutions are now getting in. AEZS had only single digit percent of shares outstanding held by institutions, that will rise the next report date, I expect.
Well if they knew the results of BLIND study yes, but since they shouldnt have advance knowledge , they will sell into any rally.
Think of it , is what if the results were not that impresive and they were able to sell any.
Risk reward , they are selling now.