Slight delay in predicted launch seems to have contributed to the selloff
The whole sector got beat up today, but CEMP's large drop appears to be related to a delay in trial results. Although nobody wants to wait longer, I like the fact that the company appears to be doing things by the book. Rushing a drug to the FDA without the necessary documentation usually proves more costly in the long run to the company and investors alike. Nothing on the CC gave me concern that CEMP's trials showed any cause for concern. With infections in hospitals causing all kinds of problems including those involved with joint replacements, CEMP's drugs seem to meet a very serious need. I viewed today's dip as an opportunity to buy or add to my position. IMHO.
Found the infor I was looking for. P3 initially planned to be done by mid year with results in second half. Now theyre saying 4th quarter and 1st quarter. So about 3 to 6 months later than initially projected.