Curious buyback

The decision by NantKwest Inc. (NASDAQ:NK) to buy back $50 million of stock isn't going to dent the cancer company's coffers, but if the move was calculated to inspire investor confidence it could have missed the mark.

NantKwest did not speak to BioCentury, and publicly gave only a boilerplate reason for the buyback: a stock price that did not reflect its growth prospects or long-term strategy...