Old shorts covered up at the day low around 1.20 -.1.40, new short positioned at above 1.40.
Next few days will be interesting when some detailed analysis come out from the brokers.
It seems the $50M milestone (at $220M sales per year)payment is very unlikely as the sales will not tough that ever.
So the Loyalty payment is the only profit source ACR can bank on, without other drugs providing incomes.
Based on the $22m loyalty, the current SP of $1.50 is not undervalued. I would be happy to offload early next week, on Monday' open.
A single income source with some uncertainty, that is what shorters are looking at.
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