Below is a portion of a Seeking Alpha October 4th article on Sarepta and short interest. It states that Sarepta had bad news come out on another drug the same day but it was lost in the hoop-la over their MD drug's Ph IIb results.
Maybe ASTX management should have released the MP-470 new on the same day as EU approval. Instead, we got slammed on MP-470 discontinuation, share price tanked, and then the great news of EU approval comes out on a worthless Friday, after market opened even, and it doesn't get any traction.
The Seeking Alpha article said:
Sarepta would have had a bad day on October 3 if it weren't for its timely announcement of the phase IIb results, though. The same day, the Department of Defense rescinded its contract and effectively froze work on the Phase I Ebola therapeutic program (AVI-7537). While annoying, this doesn't necessarily mark the end of AVI-7537, and shows that the phase IIb results were just that significant to SRPT investors.
Are you suggesting that astx sit on material information? Last time I heard that was highly illegal. Further, srpt has dropped like $11 in 2-3 days and received no fda/ema approval but rather achieved promising trial results. I fail to see any correlation between the two scenarios you have cited nor can I find a single thread of logic that would support a public company sitting on material information. Should they sit on material information to benefit some idiot shareholder on a message board?
Toowan12, please quit with the "sit on material information" and no logic. The "decision" to halt MP-470 was a "decision," just that. They could have "scheduled" the meeting to make the decision to halt MP-470 at any time. That was my point. An internal decision, that everyone in upper mgmt supposedly saw coming, that was probably based on the input of multiple parties gathered over time, and probably required some type of formal discussion/meeting to make, could have been scheduled a little later.
My point was: investors were watching ASTX for news on the EU approval, instead all that attention gets diverted/diluted on the negative MP470 news when the decision could have been made at a later date.
Release dates for some information are discretionary(Formal Decision to halt MP470 and SRPT release of PhIIb data) and other release dates (when you receive EU AML approval or SRPT got DoD contract rescision notification) are not. That Simple.
The SRPT news is stronger upside potential than dacogen news. Plus right now SRPT doesn't share revenues. This is always going to boil down to a second drug getting close to producing revenues. Dacogen is now going to have to show growth. However if SGI-110 shows some major signs, I believe we're off to the races. It also helps that SRPT has a smaller float, but had to do it with a 1 for 6 reverse split.