Smart Management: Bottom line $$$ Protected by Wise Decision
Better to see a management team that knows to end a study, then one that drags on and wastes more money. The market has reason to put more confidence in this merged management team. Taking a look at the Astex pipeline this is hardly much more than a blip on the screen. Buyers who take advantage of this dip are getting a gift. I'm here for Dacogen EU approval and as others have pointed out, Astex is going to continue to grow. Frankly, this decision has helped their profit/revenue bottom line by extracting an under-performing candidate. Smart move. Therefore, news item is a positive if you have a business mindset.
The street doesn't care about blips. The shorts attack as fast as they can. Now any EMEA news will be watered down. But it might catch some shorts by surprise, they only read headlines. It just shows you, promise in Ph1's are not reliable.