Friends, Yesterday was quite the day! Volume up, but not like last week. Big news was that shorting arna was restricted by regulatory circuit breaker due to high volume shorting on June 23. On June 26 only 26% (26 percent) of the trades went short. What would it have been if not restricted? BTW think of pps like it's $1.508 remember the desperate 1:10 RS happened one week ago. Don't forget pipeline is not only weak and for crowded markets, but is small old and will likely need Huuuge Dilution.
June 27 The Street ( isn't that Cramer's publication) Quant Ratings: RECOMMENDATION We rate ARENA PHARMACEUTICALS INC (ARNA) a SELL. ARENA PHARMACEUTICALS INC's gross profit margin for the first quarter of its fiscal year 2017 has significantly decreased when compared to the same period a year ago. Sales and net income fell significantly, underperforming compared to the average company in its industry. At the same time, stockholders' equity ("net worth") has significantly decreased by 29.15% from the same quarter last year.
Delusional longtards excited about $1.58 and underwriters saying buy ahead of coming massive dilution need psychiatric help. They probably can't afford it with all their losses so will head over to Jeannie's Psychic Help Center for assistance.
What a day June 27th was in ARNA World Friends. It started with noise that Citi started coverage and said buy. PPS went as high as 16.17 ( $1.617 pre Reverse Split). It turned at to be much ado about nothing. Recall Citi is an active underwriter. PPS closed at 15.23 ( $1.523 pre Reverse Split Up 0.015 pennies). Volume Heavy. 50.3% of trades went short. BTW ARNA said RS would result in there being 31.5M shares, but OOPS there's 32.54Million. So, over 1M shares have been added in past week. Citi has plenty ATM offering shares left to add. Together with Leerink Citi there's also 9M shrs from May to add to outstanding shr number. Bet Citi will be part of the next HUUUUUge Dilution. Stay tuned.
Desperate Underwater Arnatards getting crazed with ATM program manager and Underwriter of April secondary saying buy...So sad! arnatards for a reason.
I'M THRILLED THAT UNDERWRITER SAID BUY
Pump and Dump. Citi analyst who said buy today was co-host of Citi Biotech conference in September 2016 and didn't invite arna. Lo and Behold after Citi gets big ATM offering contract in Jan 2017 that's still active, is joint book runner for April Secondary, splits 9M shares on May 19 2017 they now say buy this junk..LOL...
Looks like pre-market Underwriter tricks to manipulate pps. Up on 1414 shares. Mini- dilution happened last week IMO. 1:10 Reverse Split authorized 31.5 M shares, but today there's 32.54M outstanding shares. Co-bookrunners got 9M shares to sell on May 19 both say buy arna. Arna has terrible financials. Massive dilution ahead. Trapped longs can't recover losses. Watch-Out for pump and dump. DYODD
Longs failing Longs failing Failures again Crushed like a flea Longs failing stormy waters wash them away again and again Longs are Failures you see
BWAHAAAAHA the MARKETS KNOW
Why did PJ stop covering so close to fantasy read-outs? They see nothing in them huh?
Ho-Hum...another pump then dump.
Poor Desperate longtards pumping AXON's n=11 Nelotanserin that's not only years away from completing a real phase 2, but failed to meet secondary endpoints. Sad people
BWAHHHHHH...UNDERWATER LONGS PIDDLING ON SELF CAUSE UNDERWRITER CITI STILL RUNNING ATM OFFERING SAYS BUY.....LOL WILL THEY RUN COMING DILUTION OFFERING SOLO OR WITH LEERINK...LOL
Awww.....Whopper Flippers doin the nothing burger flip cause pps up a whopping 8 cents.
Massive Dilution shortly !!
Yes. shorts crushed in reverse split adjusted pps of $1.50's. Arnatards for a reason.
Citi see's potential $6.00 pps fall in July.....Ouch Mammy
Poor ARNA. BP passes on it again. Recently founded Provention Bio announced that it raised $28.4 million in Series A financing, with J&J emerging as a main investor. IPO likely in 2018. Ashleigh Palmer, co-founder and CEO of Provention, stated, "With our founding financing complete, we believe that Provention is ready to advance its mission of early disease interception and prevention. Our goal is to do more than merely treat the symptoms of chronic autoimmune and inflammatory diseases, such as type 1 diabetes, Crohn's disease and ulcerative colitis. We hope to identify and combat the underlying cause, or trigger, of such diseases before symptoms emerge, and to intercept disease progression and relapse to eliminate or reduce long-term damage and chronic suffering."
From $130 5 years ago to $15.16 is really really a good long bet to me
1:10 RSS on June 19. Looks like Investment Bank share ping pong to manipulate pps and trick you to buy. Underwriters split 9M shares on 5/19 can now sell. ATM offering in play. 150+% dilution ahead. Anything you buy can and will be used against you. Trapped Diluted Underwater longs can't recover. DYODD