If it was short covering we would be moving higher. But the opposite is happening.
Any well run company would have had FDA approval within 12-18 months of data lock. We don’t even know if they have applied for any regulatory applications. At least they didn’t until late August when they PR’d PIP approval. We are not going to see any regulatory approvals this year. It’s quite possible that retail will learn of another thing that NWBO team needed to accomplish before they could apply for MAA in the next month or two!
They have been playing with retail all this while by hiding behind their quiet period strategy and lack of clear communication.
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