The good news was coincidental (read framed) with the completion of second tranche of private placement.

It seems that those new investors choose to exercise immediately their right to sell their warranted shares bought @$0.22. Why not, it represented for them an instant 100%+ gain. Flooding the market with those cheap shares meant complete cancellation of the good news effect on sp.

Such is the malignant power of dilution.

By issuing those new shares, Sunesis secured its future, but the immediate effect was more like a slap in the face of current shareholders.


We'll need more good news to overcome that.