RE:Calgary herald Although the news was positive it was grey in my opinion and the markets need more clarity. I for one was expecting more meat in the news release and in this news article from Calgary sun.
The market clearly demonstrated yesterday that it requires more answers from mana age meant.
1. How much is this phase 3 trial going to cost? $50-$100M is standard.
2. Does Arch need to raise capital, if so how much? Is there dilution coming?
3. Is the Canadian Government going to participate in funding, if so how much? We know they kicked in $6.7M for phase 2.
4 Are we moving to senior exchange like TSX or Nasdaq to attract Institutional investors, the TSXV is not well respected nor does it qualify for many institutional investors.
5. We are still waiting on the detailed published results from the independent review of phase 2
It is obvious that mananagement has been proactive lining up Sunnybrook and its network of 65 hospitals plus they have manufactured enough of their drug to complete the phase 3 trial.
In my opinion have more questions then answers at this point and will continue with this nefarious trading pattern with the same day traders knocking it up at the open walk it down through the day and back up in the last 30 minutes. Yesterday was actually first time in months that it actually continued to get walked down and closed near the low of the day. I do not buy that this was sell the news event, 100,000 shares traded is not evidence of that.