Fair enough on the IR division. Look, I'm not trying to be a jerk. But I've worked at a couple start-ups. At one of them, we announced a pretty high-profile project that we were working on. And the lady that was our "Office Manager" (Aka CEO's secretary + HR + IR division + a whole bunch of random stuff) got swamped with emails and voice mails. It really sucked for her. She, of course, wasn't able to give out any inside information on our project. And even if she could, she didn't have the time to respond to everyone. But more importantly, it clogged up everything and made it harder for her to deal with the people we were working with. I think we had to make up a new email address for important people to use and get another line for them to call into.
The bottom line is that it doesn't matter if it's a big company or a small company. No company is going to give you insider info. A big company will have their IR division send you a wordy form letter thanking you for your interest, with links to their press releases, and a closing statement that if you'd like more information on PRODUCT X to visit their website. A small company that's too busy trying to get their project off the ground may just not respond.
IMO, the IND # PR release was a done to try to send a coded message to all of us. In fact, I think we did something similar at that start-up I was at. My interpretation of it is they're saying "Hey investors! We're excited that so many of you are interested in what we're doing. We're excited too! The IND isn't approved yet, but we want to let you know that the wheels are in motion. Hang in there. Big things are coming!"
That's my take on it anyway. GLTY! BMSN.
