The revised drug efficacy looks dismal on the headline. Admittedly I am no expert but would not touch this. I have noticed a recent trend for clinical stage biopharma co stocks to recover hugely after a 60 to 70% one day drop, over a period of several months, a lot of them seem to come out one day w/ a revised indication after a catastrophic data point & spike the stock... but it takes some time & surely is not in all cases.
I'm sorry to say that but probably it is going to $10. We will see only lawsuits in the future.Its competitor AZen wants this Co. dead + buried!
Someone was playing around buying small amounts of Puts last week on the $50 to $70 Strikes, must be nice to buy a Put for $.15 and sell it for $59.00!