"As of now, enrollment into the APPY1 pivotal U.S. clinical study is expected to continue across the 28 participating hospital sites through much of 2013. Based on current projections, we anticipate completing the study and potentially filing with the FDA for clinical regulatory clearance of APPY1 by the end of the year."
I don't know how anyone really expected a 4th qtr filing if the trial was not going to be completed until the 4th qtr. The CEO was being overly optimistic which is a common mistake in biotech land.
pmony..August is the estimated time to complete enrollment then it take companies 6-8 wks to release the data which put the original timeline of release in Q4 per the company. The Q4 data release is what traders cared about not August completion on enrollment. The data release was the catalyst and now it is pushed back.
The market is always right and most every biotech trader knows that and you don't fight it. That is why you trade these stocks as timelines can change. Traders going long always welcome the opportunity to pick up cheap shares as you did. Many different ways to trade it and make it work for you. That is the appreciation of good biotech trading. Good luck!
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