georgie18's House of Gain...

[Jugas]

The company's phase III trial didn't perform like they had hoped, even though it did still work, it just didn't beat the other drug that is already in the market. That news was enough to tank the stock price. I believe most or all of the hedge funds were forced to sell their positions when the pps fell below a certain dollar amount. I would hope that the company will speak soon about what the plan is going forward. Seems like the major selling from the exiting hedge funds is now over. The stock closed (I think last Thursday) at $21.60, and the drop to under $3.00 was quick and ruthless, time to reverse I would think.