As I stated, no secrets in the street. I can without reservation says that a few large traders/institutions knew of this 8k filing. For the last 2 days there have been a a number of sellers and short sellers selling thru Arca, Nite, and Cantor that we're hitting any and all size bids and continued to offer it down. This raises eyebrows in that it was well known about the upcoming minutes release and such volume to the downside in the face of it. There is now doubt that a few knew this filing was coming and bet on a pullback. Perhaps there info was correct but their desired results blow up in their faces. Definitely insider trading IMO.
I would argue the point that some investors know the actual FDA news already contributing to the rise today. In my biotech trading experience, there has ALWAYS been telltale signs just prior to trial results and FDA rulings that reflect in the stock price. Exception: CHTP ruling because of the timing in the day, immediate communication, and halt. So...in pvct's case this ruling is DAYS old. Are we so naive to believe that this info has been bottled up for days?? And what is the stock price doing lately?
Disagree. The company's SEC counsel is all over them. That's why they 8k'd the Type C meting. There is much speculation. Some may indeed be edified speculation. Perhaps I am naive but when the company 8K'd the Type C meeting they know they are incredible scrutiny by their own SEC counsel let alone anybody else. That's why I say nobody knows. Just speculation. Perhaps I am wrong but the risk just seems way too big given the Type C 8K announcement. Hope the news is great. GLTA