Gordon Haskett’s head of event-driven research Don Bilson noted that Aurina Pharmaceuticals(AUPH) confirmed on the company’s Q3 call a few weeks ago that the strategic review process it announced almost five months ago is still “actively ongoing” and pointed out that the stock was up 5.4% on Friday and another 7.4% higher yesterday with volume on both days “heavy.” The firm suspects “one reason the stock moved up yesterday is investors noticed that a Gulfstream 650 owned by (Gilead) GILD made a trip from GILD’s home in the Bay Area to Edmonton.” Taking the G650 means “there was enough room on that plane for an entire deal team” and “since there aren’t many other biopharma companies for GILD to see in Edmonton, it seems like a reasonably safe bet it was up there to see AUPH,” the analyst added.
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Read More on AUPH:
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- Aurinia Pharmaceuticals put volume heavy and directionally bearish
