You obviously look at the relevancy that way, but that's not the way I looked at.
Guessing, predicting, or analyzing the judge or FDA reviewer is part of the process. The point is not about the outcome or accuracy of anyone's guess, predition or analysis. If the information are avaliable, people will digest it, and if necessary they will react and make decision accordingly. If the decision makers are influential (Icahn, Buffet for example), then their action, rightly or wrongly, turns a non-event into a big event and will cause the stock to move in a big way.