Rachel McMinn is saying that investor's expectations were for pristine data, which is why the stock price is declining.
Understood, and I think McMinn nailed it.
Insofar as no one on this board opined a priori as to what level as SAE’s would be seen in the PACE trial, it’s reasonable to infer that people on this board were not expecting any. If that’s the case, then it’s also reasonable to infer that most other investors weren’t expecting any.
I don't think that is why the stock is selling off. The data is as good as one could have realistically expected. This is just the way it goes with biotech investing. I didn't hear any complaints from the board when many of these same filthy animals ran it up to $13.50. It's part of the deal, like it or not.