RE:Made it Through FridayI was expecting an exciting day for Acasti, Matinas stole the show with serious beat in the jaw with a -26% hit. Talking about MM, Matinas went from 70 cents (reverse split zone) to 2,50$ for no reason and than oups ! a financing round that will probably be at around 1.25$ just enough to avoid a short term reverse split.
Since T1 last patient visit occured around Nov 20th. We are 7 weeks after, I think the stat guy is back from is Cancun vacation and recovered from is overdose of Pina coladas.
If topline results were disapointing I would have expected the communication earlier (or friday 16h05) to avoid management risk to be accused to leak the results.
I am still bullish. I think management is currently managing to avoid "a sale event" on the release day. I am pretty sure that our quiet CEO Janelle want to cash some of her savy 3 millions stock options.
To avoid a fire sell, Jan will probably announce:
- T2 last patient visit;
- T2 result by the end of the month;
- Strong cash balance with $16M-19M;
- A commercial deal could be linked to positive results which could explain the delay.
If they follow the same patern as Amarin, we could expect monday morning 4h30 PR.
If not, it could wait to next Monday or they could combined T1 & T2 for month end. Only god, Pierre and Jan know.
GLTA.