No one really "knows" what trials will bring but the fact that they are buying leads me to believe that insiders like the technology, be it done in the lab or in patients.
I also realize that Kovner's buys are mere pocket change for him and despite what the naysayers think, he's not investing for the write off. His accumulation is bullish, plain and simple. Would you say the same if insiders were selling?? That is is meaningless and that they can't know the results??
Listen to the conference call of the results released a few months ago. There were some extremely positive comments made. Paraphrasing, one of the women scientists was calling the trials something like incredible and that the drug worked like nothing she had ever seen before. She could be wrong but her stance is encouraging. We shall see.
Don't get defensive. You are not getting what I am saying. I like the their results so far. My point is that insider buying means nothing ESPECIALLY in the biotech world. These studies are blinded and no one knows how it's going. We also don't know about side-effects, statististical signifcance. How many times have you seen spectaculr Phase II's only to be killed in phase III. Despite this, their great phase II is why I am long. By the way.. Insiders sell for many reasons and it's not always bad. Notoriously they sell waaaaay too early.