Since we are all making guesses, my guess is that that Mercer...

Since we are all making guesses, my guess is that that Mercer wont be that stupid. It wont add to their reputation if that is the way they behave.
We have had nearly 100k of shares traded the last 2 days by I assume panic sellers, that is a lot of shares for AVR.
The panic appears to have abated somewhat by mid afternoon.
If the market finds some sort of low here and with the AGM looming only the weak hands will sell.
Those who actually understand the stock will continue to buy at prices equivalent, or close to, what our largest shareholder, (one of the smartest biotech investors on the planet) paid in the placement.