By my reckoning, the seller has around 85k shares left. Todays pattern is what they were doing before. Small lots every 15 minutes or so regardless of level or market depth. Very much an algo approach to exiting at a day or week average. May take another 10-15 trading days with the low vols. Probably perfectly timed exit at lows, just in time for the premiere TH1902 data set for what they learned in the dosage portion!
FYI, THTX has been sensible with the IND they will initially go for no what INDs likely would follow. The Mackie analyst seems to think it will be Ovarian and Endometrial. I don't know if that's his own guess, from AACR papers or from mgmt. Ovarian is a tough one, but hurdle is low. A good comp would Immunogen ADC in Phase 2 or maybe 3 now. Their market cap went up around $750mil coming out of the 1b trial, and in to 2. ORR is around 30% (almost all partial) and PFS 6 months. But it had some decent side effects (even a trial related death).
So you could say the market valued a decent ADC in Ovarian coming out of its initial human efficacy trial as worth around that $600-750 million level. Their mkt cap is $1.1 bil as they have a few other early stage oncology drugs.
For endometrial, I think Keytruda gets a lot of that along with a SeaGen drug so harder to put a mkt value on that one line now. It's a smaller market overall.
I still hope TNBC and melanoma will also be strong indications for TH1902. Those are huge markets.