Cipher Pharmaceuticals Inc T.CPH

Cipher share price is ahead of Knight Therapeutics this a.m.

[PitchinPennies]

Cipher passed Knight? I have to admit I didn't see this happening -- ever. Probably reflects more on what Knight failed to accomplish with its great resources, and less on Craig Mull's having gone to ground to exist on treebark and foraged berries. But what I really don't comprehend is Mull's latest play. Can someone explain the thinking behind his "dutch auction" offer? Is this $6 million share buy-back some kind of ploy to drive the price up, or down? I just don't see the logic.

[drewmumaw]

My initial reaction to the Dutch auction was that it was another way—in addition to the NCIB—to shake out paper hands before they make an acquisition that may lift the share price significantly higher. Seems like they want the fewest number of coat-tail riders as possible. The Mull family owns roughly 10 million shares of the 25 million shares outstanding, so they have a vested interest in