I'm not a shareholder. Never have been. I'm really only interested in PPHM, but know SNTA because they're in the 2nd line NSCLC space. For those who know the story, PPHM, too had a 2nd line NSCLC trial for their lead drug candidate in combination with docetaxel. Well, last fall someone at a CRO switched the labels on the vials between a treatment arm and placebo and blew the whole trial up. Stock dropped 84% in one day. Luckily, they've bounced back but the company verified there was "clear evidence" that someone purposefully switched the dose labeling. However, it was at about this point in their trial that they announced the error. About 3 weeks prior to a huge conference in Europe. When some of us investors found out the conference was cancelled, investor relations said it was due to personal reasons that management could not attend. Keep an eye out for any sign of the ASCO abstract being pulled and if you see it, run don't walk for the exit. Good luck.
Of all the possible reasons for the decline, like the downgrade, CEO meeting and even more "reasonable" speculations like toxicity or efficacy, you come up with "labels were switched"? Gooooood analysis buddy!
jc, i bought a good amount of pphm under a dollar when coding error was announced. like synta now, the sell off was not justified. i rode the recovery up to 2 but sold out after they announced the pc result which was somewhat positive but not as good as i would have like for me to remain a shareholder.
this is the only similarity with pphm; that is, both were victim of manipulation. the news release by the companies are no where alike. pphm news material to the well being to the company and should have been taken negatively; where as the snta's news was material to the well being of of dr Ramachandra and shouldn't have triggered any price action at all.
synta is another case of wallstreet inventing goblins and ghouls to scare off weak hands.