Lower revenues are because the drug doesn't work, has intolerable adverse effects, and declining efficacy over time.
Great sales? I'm not sure what you were looking at. This drug was projected $2.5 BILLION, with a B, by one analyst for 2016. It got $4.5 million in 3 months. Sales were awful.
The dramatically higerh guidance is no surprise. IRWD is the biggest scam in biotech and I didn't expect that to end today. You gotta keep the scam going for it to work!
And the price per share didnt crash. In fact, it barely budged. This was soaring the last few months for no reason. Today it should have gapped down to $12 based on those numbers. It's somehow holding $17.
Today is a shorting day. When the next short interests numbers are out you will realize that. Everything you said was wrong.
So #$%$, weren't analysts just a month ago giving this a price target of 24 dollars and saying it was undervalued at 17 or 18? Isn't this the biggest case of pump and then hand off to retail investors?
Well, the market agreed with me...the premarket pps was $15.80 when I wrote that and now it's $16.80. Not a bad one day gain and pretty much a disaster for anyone that had considered it a "shorting day".
Fact is, their revenues were artificially depressed. The forward guidance is far more important and it was increased substantially.