Zeev's Turnips Patch-No Politics (ZEEV)

[ajs]

Zeev,

16:07 ET QLTI QLT Inc discontinues tariquidar Phase III trials (12.90 +0.30) Announces that it will stop its current Phase III tariquidar trials in non-small cell lung cancer following a recommendation by the Independent Data Safety Monitoring Committee (DSMC), who completed the unblinded review of the data for both ongoing trials in this indication; co intends to exploit the value of this database and make planning decisions for tariquidar after a thorough analysis of such data, and the co expects that there will be savings associated with stopping the trial.

And this is what RealMoney.com's Adam Feuerstein wrote:

QLT (QLTI-Nasdaq) shuts down tariquidar phase III study in non-small cell lung cancer on the advice of an independent data safety monitoring committee. Not a good sign. If tariquidar is a dud, that leaves QLT without a pipeline -- and big-time competition for its approved product Visudyne on the way.

Don't you think QLTI could go down to $10, its 50 DMA or even lower tomorrow?

TIA