Note the disclosure at the bottom of Mangrove's letter and rember they are recent NABI holders and doing this for the money only - they do not have a long term view or interest in either NABI or Biota:
"About Mangrove Partners Mangrove Partners is an investment advisor to a special situations hedge fund. Mangrove seeks to exploit market dislocations, company specific events and forced selling, particularly with respect to smaller issues and more complex instruments. Underpinning Mangrove's research is a deep value investing philosophy and the search for investments that provide a margin of safety."
BTA Price at posting:
67.5¢ Sentiment: Hold Disclosure: Held
