There you have it folks, Exhibit A in why Yahoo is a dried up wasteland of pablum spewing morons.
See you again in roughly 6 months.
Not that I think an actual piece of verifiable news is any match for the rabid name-calling and mindless bashing that goes on here (the reason why I post MAYBE 2 times per year on ANY Yahoo board)...
Axovant has initiated nelotanserin trial enrollment for Lewies body dementia. Arena would receive royalties and milestones along the way if successful in trials and commercialization.
I get it, you spelled them both wrong because Merk and Phizer are two sole proprietorships you just decided to start up with nothing more than letterhead and some inkjet printed business cards.
Now, if you meant Merck and Pfizer... those are two completely different things.
I guess that explains why they were about 15 minutes from nailing plywood to the windows before Shkreli decided to drop the news that he was amassing shares.
Shkreli has almost certainly sold almost all of his shares. He would be an idiot not to.
Of course, if he did NOT sell his 2 and 3 dollar shares for a 1000 to 1500% profit then one should rightly question his judgment.
Judging from his past, this was just a game to him and people who exhibit hope for some kind of miracle turnaround are the pawns in that game. OK, that gives Shkreli too much credit. They are the tiddly winks of his game.
So smart he shorted 32 million shares of OREX and lost his little spoiled brat #$%$ on it.
So smart he had to break the law to divert funds to pay off his disgruntled investors in his hedge fund.
Those who shorted already HAVE their money.
They did not 'buy short shares' that they have to sell. The borrowed shares, then sold them. They now OWE the lender the shares, but if the stock is worthless then the lender is the one who is out of luck.
As a third party with no history at all in this debacle...
A short has a contractual obligation to deliver shares to the one they borrowed from. However, if the company goes BK and the shares become worthless and never trade again, then the inability to purchase non-existent shares means the short trade had the best possible outcome - the shares never come due.
Anyone who sees it differently is an idiot.