I owned AZN, CARA, and ZYNE when their FDA trials missed end points. AZN lost 20%, CARA and ZYNE lost 50%.
IMO because of poorly designed trials. These were safe, effective drugs that had bad end point targets and the stocks got smashed.
KW has said repeatedly that they have ONE chance to get the pancreatic cancer IND right. This can't be understated enough. PMCB should only file that IND when it is absolutely perfect.