Ann: Ceasing to be a substantial holder, page-14

Thanks for the good analysis- a GA for that

IMO while purchase into the Biotech fund is bullish I hope that is a LT play and not just to whipsaw the SP thru bot trading, which if only acquiring of 300k may indicate. Granted that is about $1Mn in a small biotech fund which may have other companies too. Note also if this is a LT play then the 12-month CGT window will close only in December 2022, so they would likely expect a buyout after that.

From the fund selling out, they would have incurred a CGT in the selling fund and lost any further future upside. They may have cashed in the chips from a below 10c position so it may make sense to lock in the gains which could reflect well in their client reports.

Time will tell how they use the 300k shares, whether they buy more in the biotech fund, whether there is bot trading or they hold LT. Interesting year ahead.

I just don’t like the seesaw of the SP played by funds to the detriment of LTSH.