There are thousands of reasons for an investor to sell their shares but there is only ONE reason for an investor to buy shares of a company. Having said that, It takes a lot of nerve to keep a COOL head when you're waiting for regulatory approval. Go back to basics and re-read the results of phase III to understand how lucky we are to buy shares at such depress level. The bashers do a spectacular job and they manage to shake up weak hands but they have no control over the decision or the timing.
I am a just simple-minded retailer. I am not a journal reviewer and I am not equipped to read fancy statistical analysis. That's why I don't understand the significance of the analysis.