NTII blows whistle on itself

One day after pricing its 2.4 million share follow-on offering, Neurobiological Technologies Inc. postponed the $8.4 million stock sale because two of its executive officers purchased 1,600 shares of the stock during a blackout period.

The purchases violated SEC Rule 10b-6, which prohibits, among other things, bids or purchases of an issuer’s stock by executive officers for a certain period before commencement of offers or sales of the issuer’s stock. ...