Well it looks like the Aspire theorists are probably correct over the short theorists:
From the 10Q:
1,400,000 shares sold to Aspire from Oct 1 - Nov 6.
Oct 1 - Nov 6 = 25 trading days
1,400,000/25 = 56,000 shares sold to Aspire per day.
With the low volume we have had, that would certainly help explain the price weakness despite pending B-OM results. I'm glad to see it's not just lack of interest in the stock. Hopefully this is our last tranche of Aspire sales to hold us until a deal. Leo and team wouldn't be raising the money if there wasn't a purpose for it though. More preclinicals? Bolstering cash for negotiations?
Go IPIX!
From the 10Q:
1,400,000 shares sold to Aspire from Oct 1 - Nov 6.
Oct 1 - Nov 6 = 25 trading days
1,400,000/25 = 56,000 shares sold to Aspire per day.
With the low volume we have had, that would certainly help explain the price weakness despite pending B-OM results. I'm glad to see it's not just lack of interest in the stock. Hopefully this is our last tranche of Aspire sales to hold us until a deal. Leo and team wouldn't be raising the money if there wasn't a purpose for it though. More preclinicals? Bolstering cash for negotiations?
Go IPIX!
Innovation Pharmaceuticals Inc (IPIX) Stock Research Links
All my posts are my own personal opinion and speculation. They should not be used as the basis for any investment decision. No, I am not Scottsmith.