Possibly Phase 3 trial is ALREADY priced in, so any announcement won't be "news" as everybody seems to think it is a forgone conclusion.
I mean, really, just how often has PPHM mgmt actually put out good news? Probably can count it on one hand...maybe even one finger, hehe.
And, nothing like a SEC filing after the bell on a Friday.
Article I, Section. 10. No State shall...make any Thing but gold and silver Coin a Tender in Payment of Debts;...or Law impairing the Obligation of Contracts [ask GM bondholders!].