Whether be design or just by circumstance....my thinking from the start as well has been bear trap.

The first PR was pretty much identical to the one that came out last year....however I don't believe there was ever any subsequent news in April 2018 about pricing or warrants or anything.....things just sat as they were until June when the news came out withdrawing it, and immediately the PPS started jumping.  

Prior to this news the market was saying Resverlogix was worth over $900 million.....does this news make Resverlogix and Apabetalone less valuable to the tune of about $200 million?  Dilution should impact share price certainly.....but the market cap to such a degree?  

Anyway we'll have to wait and see.....we need to know the size of this offering (or if it is pulled) and short numbers up to May 15th when they're updated Wednesday next week.  If short interest has exploded higher like it did after April's proposed offering then we at least have the potential for another squeeze.