Makes sense bocce. I wish they wouldn't post abstracts if they are not going to proceed. By posting the abstract sets up expectations (rightly or unjustly). It would have been far better not to.
" the failure to disclose 15-month data that "wasn't as good as they hoped" would expose the company to 10b-5 claims "
IMO, since the trial is not powered to show efficacy any efficacy related data from this trial could be considered anecdotal from a legal perspective and would not be considered a "material event" that would have to be reported.
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