I don't know who it is but Mr Jeremy Curnock Cook runs a biotech...

I don't know who it is but Mr Jeremy Curnock Cook runs a biotech fund and has a seat on the board. To-date he hasn't taken a position, which has been somewhat contentious, but he's in a position to know something. Perhaps he is finally taking a position....? Reassuringly I'm not sure he'd take a position just to soak up shares to reduce the impact of dilution. He'd be more likely to take something up because there were sound commercial reasons. Who knows and perhaps just wishful thinking...?

Side note: what is a professional investor doing on a company board? Isn't that a little close to the ethical boundaries of insider trading? Not exactly 'fair' to other investors anyway.

The 'concern' I have with this theory, and in general, is that there seems to be a willing seller with plenty of stock to get rid of. Who is the seller?

Anyway, conspiracy theories abound during the conversion period. As said by others I'm just looking forward to getting through this period and looking forward to a positive announcement re Jannsen early in the new year, which will hopefully put some substance into the business plan and help validate the science.