i personally take it as a good sign that somone or some entity sees a brighter future and is buying some large chunks.
The ATM is being used despite the other finacing, but with some planned buyers. Day traders account for some of the this stuff, but the range is too narrow for so much volume and no price appreciation.
From the 3Q press release - rovided U.S. Food and Drug Administration (FDA), on September 10, 2013, with additional information requested in support of DARA's request for orphan drug designation for the Company's Phase 2 development asset, KRN5500, for the treatment of painful, treatment-refractory, chronic chemotherapy-induced peripheral neuropathy ("CCIPN"). The Company expects to provide additional information in November 2013.
So we're inside the 60 - 90 day window?
I wish I had an inkling of what is to come?
There are bigger Bio's than Dara that are hemoraging as bad or worst in terms of beign down today. ARMN - KERX two good examples.
BIO's in general on my watchlist are ugly red.
I think DARA is too small for AF to spend time on. If we see a hit peice, I take that as a good sign.
Agree - 2 scenario's - My premise for #2 is pure day trader momentum, yes it would have been sparked by a big buyer.
Scenario 1 - if this is really people positioning themselves for the pending ODD decision, we'll see a drop in the first hour of trading, followed by volume buying(I would be shocked if we hit 50% of yesterdays volume)
Scenario 2 - this was a momentum event and we wash out all gains and settle in the .50's today.
Scenario 3 - i watch this pretty closely everyday. We had double the avg. volume the day before this run up and there was a lot of consolidation for weeks prior. So this could have been a orchestrated move by the MM's and again we will wash out.
That's a good sign to me, it means someone wants in