Another flawed theory….There has been a theory proposed that the company announces a private placement, then releases some positive news on the research front thereby allowing for a window of opportunity for the placement holders to unload at a big gain - only to then have the price drift downwards. Just looking at the most recent placement, that theory is flawed. The placement in early November was right around the trading price of the time, and yes, after the placement announcement, the price did indeed climb nicely. HOWEVER, the positive news about the mice remaining cancer free was actually in advance of the placement in mid-October - unfortunately, the price didn't move much - volumes were low as this was not as followed as a stock, clearly. Thus, what this tells me is the company was probably hoping to do the placement at a higher price, but the price didn't respond as management had hoped. Thus, one could argue that management was hoping against dilution. Considering how much insiders hold, I think that theory is more probable than the "pump and dump" stuff that some have brought forth. Just my thoughts.