That's always the question, of course.
Not a TA person myself, but I've never thought the idea of a gap that must be filled applies to bio's like this that drop because of a clinical trial fail. Oversold I'd agree with.
I'm looking at low-to-mid .50's sometime in February, at which point I'd be out for a 15-20% gain, good enough.
Best of luck.
All that is needed to make a happy life is within yourself, in your way of thinking. -Marcus Aurelius