Aug. 11 at 3:59 PM
$GRAL The issue is that short interest ramps at 30+ and then covers sub
$30. Why, I don't know - if you look historically, this is what has happened. As the stock has come back down, volatility has been crushed (likely because of retail getting wiped on open OTM call option positions) which has further contritubed to the selling as those have unwound.
The big catalysts remain additional Pathfinder 2 data, MCED legislation, and any add'l commentary on NHS findings. Until then, seems like the play is to sell OTM covered calls.
The question of why no shelf offering was triggered at either ramps above
$50 is an interesting one and mgmt's view to wait. Either they believe the data is going to be that good or they have something else in mind. It has not been atypical for biotech to wait for good FDA ready data before triggering a sale of the business to a strategic ... and there are a number who would find serious value here, lab players, pharma, etc.
