MSEED keep it real Phase III approval WAS NOT announced in the PR. "The approval is for an initial term of two years, which will allow Xechem to complete confirmatory Phase III clinical trials in Nigeria. The company faces no restrictions on its ability to market and sell the drug in Nigeria." Only the right to market and sell.
Part of our problem is it isn't clear how quickly and at what volume they will be selling the drug (hope today's news helps clarify this). Will strong revenues start in a week a months 6-12 months??? Thus buy on pre launch / approval to use news then sell on news. Quick profit speculators are concerned with potential for xkem being dead money for awhile after the launch hoopla fades. This is a pennystock, quick profit mentality rules the nearterm PPS no matter how good the longterm looks. To bad the market didn't reward this period of news to the degree we expected. A strong recovery from here will likely require more news than today's launch UNLESS today's news brings in ALOT of NEW buyers to overpower the resistance that the profit takers and nervous sellers will cause. IMO
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