fencejake (< 20)

CLDA - BAD NEWS FOR BULLS HOPING FOR IMMINENT TAKEOUT

February 15, 2011 – Comments (0) | RELATED TICKERS: CLDA.DL , BCRX

Sell side firm Piper Jaffray has confirmed that rumors surrounding CLDA’s withdrawal from the BIO CEO conference are not true. While the company is no longer providing a formal presentation, Piper says “The company's Chief Medical Officer, Dr. Carol Reed, is still scheduled to speak as part of a panel on Major Depressive Disorder at 3pm.” If a takeout were imminent there would be zero company representation at the conference.  This is not the first time, nor will it be the last time, a company plays the “canceling our conference participation” card in order to fuel a higher stock price in front of a secondary. One recent one that comes to mind is BCRX in November 2009. The company announced they were dropping from Oppenheimer conference only to announce a secondary offering days later.