Ann: Key Animal Study for EFS Submission Completed, page-32

There is no game to get SIO out the door? My understanding is SIO has a very good relationship with AVR but at 20% holding I can imagine they want others to tip their hats into the ring rather than them tossing money in constantly. They already have the options plus a loan that needs repaying sometime in the next 12 months.
Having another Fund on the register I am sure they would welcome.

In terms of putting this out to retail, It is much easier to place to soph's and Funds then to retailers from a compliance point of view. They placed to a Fund that should be sticky (vs Mercer that was pushing their stock out as quickly they got it) and the shareholders I have heard that have come on are looking at the big picture. It is always a good sign when the supporting broker also takes a decent batch of shares as then their interest is to also place with sticky investors to see decent price appreciation..

In my opinion, if a buyer comes in and sweeps up 200k shares I think the stock would rise very quickly and find a new base in the teens. I don't think many shares need to be taken off the table to do this.. Anyway, that is my opinion.


Do your own research. My OPINIONS Only. Not INVESTMENT ADVICE.