half price sale

From memory, on the day prior to the NABI merger announcement, biota was trading at $1.04. Some insiders then sold and immediately prior to th Ann , biota was trading at 94 cents.

So the closing auction today represented a half price sale. The share price plummeted 50% from an already puddly $1. At $1 even Biota management said that Biota was was way undervalued.

It's funny that this year we had one of the best possible announcements you could hope for - vapenavir passed phase II testing - Biota is on the way to commercializing a cure for the common cold yet lack of management foresiight has seen the share price continue on its merry downward path to end at a ridiculous low. And this ridiculous low is in spite of one of the most impressive pipelines that woulld fill any budding biotech and major pharmaceutical with envy.

Let's hope that those institutions that were forced to sell Biota today (and since the merger announcement) will buy back in and have biota represented in their global share funds.