This deal reeks like there is a vindictive element to it....

This deal reeks like there is a vindictive element to it. Looking at the trades on Commsec there was a consistent 500k on the sell being loaded everytime it was cleared. Why would you trade out for 100-200% gain when you could leak out slowly and get over 20cts?

Last couple of Cannacord Biotech trades I got in were v good - Next Science and AT1. I recall ACL had a similar iceberg seller who drive the price down until there was a massive xing to take out the seller and it rallied thereafter back above the $4 IPO level.

Outside of the 40m on the IPO there are only around 45m shares that are not locked up - so hopefully there is some a deal being done to take out the overhang so path is cleared for a re-rate. I'll be picking up some more tomorrow as this looks like a good trade, given its a technical overhang and not lousy fundamentals.