With all due respect Beave,
IMHO knowledgable investors are not too concerned about "bad data". Bad Data is extremely unlikely. Perhaps delays, issues about partnership, talk about money woes and possible dilutions. Most of these are the result of the glacier like speed of the regulatory process with its monumental redundantcy. Do we not share some common chromosomes with the Europeans, is not our blood red like theirs. Why is there no reciprocity between our continents. Why this mindless replication of results which is expensive, time consuming, pointless and in cases like plasma proteins cost patients their lives. There are enough new medical products to divide the effort between the EMEA and the FDA and other regulatory agencies. They could get together an form an international agency to clear drugs.
The FDA with is unforgivable delays in reviewing drugs, is way overdue for reform. The FDA has been shown in the past to play favorites in certain situations and to delay revues to companies they did not like. In 1992 the then FDA Chairman one David Kessler, unilaterally, and against the advice of an "expert panel", he himself had convened, removed silicone gel implants from the market on "theoretical" problems he himself immagined. It is sixteen years later, the implants have been studied more than any other thing in medicine; and none of the concerns have born fruit. The cost of these studies is in the billions, the psycological damage to the patients extreme. Recently the FDA has sheepishly let these devices back into the general market. Kessler has gone on to become the Dean of Yale Medical School. I like to think Harvard had some hand in that.
