What do you do when your stock price is sliding in the absence of any news? Start talking up the positives. The UK's Silence Therapeutics is continuing to protest that it knows of no reason for the decline in its stock price. Over the last six months the RNAi discovery company has lost about half of its value. To counter the plunge, Silence Chairman Iain Ross issued a letter to investors saying that inaccurate market rumors were eating into its stock value. To help spruce up the company's stock value, Ross announced that Silence is in talks regarding new research collaborations and licensing deals, which the biotech expects to close in 2008. Cautious investors responded by nudging up Silence's once high-flying stock.
- see the letter
- here's the report from MarketWatch