Disagree with the last sentence: "Once we accept the above, everything else will make sense (including, pps)."
If Missling had stated that the trial failed, then the stock would have fallen below $5, maybe even to the $2 range. That's the motive that supports your thesis.
If that is your perspective, then why are institutions loading up on our stock at these lower levels? I highly doubt they would be loading up based on a failed phase 2 trial.
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