The last time they filed a shelf registration was on 2/21/14 when the stock price was at $21.55 for surprisingly the same shelf amount. At the time, people, including me, were complaining about the timing since we just went up from single digits and ARWR just raised at a higher price and we thought the sky was the limit. Why didn't we wait, what was management thinking, blah blah blah blah.
Well management waited until the opportune moment and raised not at the price when filed but at $28.50. Did they have to file when they did? Did they have to raise when they did? No to both questions. They filed the SHELF REGISTRATION which allowed them to sell when it was the opportune time to do so, and their timing was almost perfect. I wish I would have sold at the same time and I am sure most on this board feels the same way.
Management has raised money when it has been in the best interest of long term shareholders, not the shorts IMO. Take a look at the filings and then question the motives/timing. Today's filing is a non event IMO. Here are some links you may want to look at:
SEC filings for TKMR
Last shelf filing on 2/21/14
Notice of actual sale, almost at this year's high on 3/10/14, hardly bad timing IMO. Management has proven more adept at selling company shares better than I have selling mine which along with management haven't sold mine :^)