Do a Google search on ATMs and how they are being used more and more to raise capital, especially in the biotech market. They are counting on the panic of the uninformed to get cheap shares. Do not let them steal your shares. This is a positive.
Just a snippet from a great article about them.
sunderstanding #1: Announcing an ATM offering will depress a company’s share value comparable to traditional follow-on offerings
Announcements of follow-on equity offerings in the life sciences typically result in a drop of the stock price. Ten percent drops are fairly common. Since an ATM is a follow-on offering, the logical expectation is that, following an ATM announcement, the share price will fall at a comparable rate to traditional follow-on offerings. In fact, this assumption is incorrect.
Data on life science stock price movements following announcements of ATMs compared to conventional follow-on offerings demonstrate a minimal impact of ATM announcements on the stock price compared to conventional follow-on offering announcements (Figure). Based on equity offerings during the first five months of 2012, the stock price decline following announcements of conventional follow-on offerings was about seven percent whereas ATM announcements generated a small 1.5 to three percent decline.
$.762 was where I bought it. I saw it pull back from the high and thought it would be a good place to jump in. I still have half my position in AST, now a position in AVXL and still holding my NVIV which are my original shares and not going anywhere.
Bought into AVXL. It will be going down. Trust me. I sold AST to get it. It promptly went up .30 cents after I sold it. Sweet! Didn't touch any NVIV to do this this time though. :-)
I will correct my own writing right now. "or the editor at the BBJ is inept". I was trying to decide if I should call him "an idiot", but then decided to just say he was inept. Left the "an" in by mistake. LOL But DS cannot place a comma in the correct place if his life depended on it, and his sentences appear to be written by someone with a severe case of ADD.
Hahahaha! Just posted the same thing in my comment re Perrin. He's a hack.
The third patient "is older than the first two, didn't waive his HIPAA rights, and has no interest in social media". So, our assumption about the third patient was right on the mark. Older, and no interest in social media. The fact that he is older and still had such a great response to the scaffold, is good news I believe. We will see what is said at the 90 day mark. As a side note, although I found the article interesting, this guy cannot write. Either that, or the editor at the BBJ is an inept. I found it almost too painful to read.
They were down almost 25%. According to the headlines, Biogen WAS responsible for the weakness in the biotech market.