- A T7 halt was issued when shares of Celsion plummeted to an intraday low of 6.17. Flyonthewall issued this brief note as well. I reached out to management directly asking what had happened, and the response from Greg Weaver, Celsion CFO, was "We have no further information right now, and are in contact with nasdaq and trading desks to sort it out." Celsion CEO also subsequently provided a brief, general follow-up saying "fundamentals here are strong and have not changed...Company remains on track." Nobody can be sure of what happened (leak, bear raid, whatever), but the responses from Celsion management do give me some reassurance.
- Obviously lost in this news, Roth Capital issued a new report as well today, and the link is provided below. From the report, the author states:
- "In short, management has
- indicated that all is status quo in finalizing the HEAT data readout and that
- nothing has leaked out. Nasdaq has indicated its belief that the intraday drop was driven primarily by retail and some short interest pressure coming through. Recall that the stock performance has been strong and sustainable as of late as investors have been making bets on HEAT. Other feedback we received from investors was that if it was a leak or institutional selling, the negative stock pressure would have been sustained."
I remain extremely confident in a positive HEAT outcome, despite the craziness we observed today. Fingers are crossed, wishing management, shareholders, and most importantly, potential future patients, the best of luck as we near data release.