Very little volume associated with the rise. So, my guess is that it is isolated individuals having a small punt on there being a greater price impact when the announcement is finally made.
If there were buyers "in the know" about an imminent positive announcement, you'd expect there would have been greater volume in the recent trading activity.
What seems more interesting is the overnight emergence on the sell side of someone wanting to unload 550,000 shares at $0.19 (which is about 0.5% of the shares on the RGS register).
This development suggests to me that a relatively large holder has decided that either: the long expected announcement of a clinical licensing deal in Japan could easily drag on into next year; and/or, when the froth and bubble is stripped away, even a near term announcement might only mean that a modest milestone payment is triggered from AGC - sufficient to keep a capital raising at bay for another 9 months or so - and that timeframe is most likely quite a bit less time than it will take a potential clinical licensee to undertake and complete the phase 2 trial of Progenza in Japan.
This company has quite a few interesting irons in the fire - with Sygenus being the most interesting for mine - but nothing happens quickly in the regenerative medicine field or with this company, and that makes it perhaps unsurprising that the odd larger shareholder's patience might be getting frayed.
zeno9
