Phase2 clinical trials have a sizeable percentage of failure and it makes sense to be prudent with the hint of negative results. You guessed it: to me it looks like a case of too much prudence (can be a bad thing).
The future is uncertain, that's something punters must grapple with, my hunch on the recent trading is that nerves are playing out and are having a snowballing effect: it goes a bit lower till it triggers stop losses so it goes a bit lower till it triggers.....
I don't think that a five harms double blinded trial of 12 weeks can 'produce' enough evidence to inform a large holder strategic exit (at a 20% + loss), not a week after the first (five?) patients have completed the trial.(?)
There's been a 30% increase in volume of shares traded from September to October but it has coincided with the largest correction of the last years.
As the say goes: better be safe than sorry: wishing you well with your remaining (and new) stocks.
(20min delay)
