Possibly to allow accumulation at a lower price. There have been some big investments made in this stock recently (see the change in substanial holdings reports) and the price has stayed relatively flat throughout.
But I don't really know. I think the market is also waiting for the results of the phase 1 trial due end of the quarter (so expect in the next couple of weeks).
Im taking it as a positive that bvf have taken a major stake and also that big pharma was willing to pay a fair bit of cash upfront for a phase 1 drug (with more to follow as it is developed). Plenty of potential upside from here IMO.
DYOR
PXS Price at posting:
21.5¢ Sentiment: Hold Disclosure: Held
