My guess is that with short positions down to 15 million shares, many other holders of short positions are deciding to continue to close them out. Trading volume is near average with uptick in share price. The future is looking way to positive for ARNA to be caught holding a short position.
Sentiment: Strong Buy
Axovant is reporting good results to date for Nelotanaserin. Phase II data will be out later this year and in early 2017. Slide title in recent presentation: Nelotanserin Best In Class.....
They also talk about the 3 Ps. Product, Patents, Pipeline. Arena has all 3.
Isn't it 90 days? It is kind of big deal. Doing a reverse split to get the share price back up above a dollar is the final sign that the company is about to fail.
Hear what you are saying, but don't forget Arena is in San Diego. There are many people working for companies all over the LaJolla region as program directors making $200K or more a year. Mid level engineers and scientists make $100K & more.
Munshi given options to buy ARNA shares at $1.55 over the next couple of years. Recent share price was $1.58 It's good incentive for him to be aggressive and move the company forward.
Progress on approval for Belviq sales in Brazil, Mexico, Israel, or Canada. Belviq XR final approval by FDA. Progress with restarting approval process in EU. Moving APD371 to Phase II. ADP374 update and progress, etc.
5/15/2015 the number of shares short was just over 32 million.
Provides incentive for Mr. Munshi to take action and make ARNA successful. Exactly what a multi-year stock option plan is intended to do.
When I posted on the board several months ago that I thought it was still too early to buy LL shares due to the overhang of legal issues and needed to show a rebound in revenue with a good quarterly report, many criticized my point of view. Now the issues seem to be getting cleared out and nationwide advertising campaign is in gear. No hurry to buy yet, but incremental buys seem ok.
I didn't go into detail. The past 2 quarters when many here thought LL would be on the rebound but didn't want to admit that sales revenue would continue to take a hit after the huge negative publicity from the 60 minutes report that sent the share price into a total nose dive.
New CEO will need to layout his roadmap to getting ARNA moving forward. I might even go to it. ARNA management has pretty much been in neutral for the past year and the stock price shows it.
2 bad quarters as expected and a good drop back down in share price. Seems the legal & liability issues are clearing away. Now it's time for LL to rebuild the brand and get sales up. Incremental buys now.
A good example of how many bloggers don't have a clue about what they are writing about. See the note below by halfsure1. PET Coke is not coal and UAN gets it from CVR Refining at a discount price.
That's a fact JACK!!