Institutions & liquiditygiven the strength in volume & price since the latest pp anouncement, i suspect if large investors want a large position, all they will need to do is call BT and ask him to do another pp at a discount to market, just as he has done 5 times in the past 16 months.
no one knows what BT thinks is an adequate cash position, since he has stated numerous times since late 2002 that onc has enough cash to complete ph II trials, yet he repeatedly does pp's with large investors at a discount after such public statements.
i hope that he will finally tell those wanting a large position to buy from the market, and drive the price up. then the talk of a split to improve liquidity will seem more realistic, but i suspect there will be another pp sooner rather than later, particularly if the price continues to show strength.
i agree that given the volume over the past several weeks, we are likely seeing some US institutions taking relatively large but very possibly speculative trading positions - and causing the incumbent daytraders and other speculators to jump in -
the price and perceived risks compared to the potential rewards are still relatively low even at $5 or $6 US. however, without substantive follow-up results in the near term, such as final ph I glio results or interim systemic results, i see the upside becoming more limited, the closer the price gets to $10, in fact, the stock has almost doubled in just over a month - so the chances of some natural profit taking will go up once the stock starts to show signs of any weakness.
imo, the real serious money will only move in once onc has some convincing results -ie more than a 6 patient ph II prostate trial or the start of ph II glio or systemic and i don't see any final glio results for another 6 months if not 2005. perhaps by then the stock may have been driven high enough to make a split feasible while improving liquidity for institutions.
ps note, for those who take anything but gushing about onc as bashing, sorry to cause you to consider anything other than $100 per share.
