Hence it being $12 and change on June 2, when Aerie posted their conference presentation (what the post is about -- the 8K).
P.S.: this is an old thread that someone (not me) bumped up with a now-deleted post.
The point is that it can fall, for illegitimate reasons. But it doesn't always, and that is when shorts go bankrupt.
You should really know this, but in biotech land, hedge funds have all kinds of tricks to run down stocks with criminal shorting. They will sell shares naked and then use various tricks to avoid delivering for months, effectively increasing the float and stealing money, in collusion with lenders.
Bagholders will turn into winners here. The naked short institutions are getting reckless. One billion dollars.
I saw issues with the headlines for many other companies.
"Third, the thickness readings were were done by an unusual computer algorithm, rather than manually." Interesting.
They won't do a share buyback. They'll use the cash for R&D.
"The enormous upfront payment definitely got Wall Street's attention, as Juno's CAR-T therapies are still in an early stage and that amount is unusually large for a licensing deal. On a conference call with analysts late Monday, Celgene CEO Bob Hugin said he expects to start making money from this partnership in 2020."