Tell me if I am wrong, but this news release is just informing us that they are going into Phase II for this insomnia drug. Which I assume WAS expected. If that is true it should not create a stir, YET. When it passes, which is an unknown at this time, then the stock will rise.
I do not expect any change due to this news release.
SAN DIEGO, Calif., July 30 (dbusiness) � Neurocrine Biosciences Inc. will be initiating a new phase of testing for its insomnia product.
The phase II clinical study will assess the safety of the product in a laboratory setting among approximately 228 patients. Phase I testing found the product to be �safe and well tolerated� among healthy volunteers, according to the company.