Now that the ER and CC have been set does that mean that they will not release any news of the NDA before 5/3? Are they restricted or would they have to release material news regardless of the upcoming ER?
Anything material would have to be released - there would be no waiting for a news conference, as that would just increase the likelihood of leaks and illegal trading. The underlying objective of press releases is timely disclosure, which trumps a company orchestrated earnings "event". If anything, they may want to reschedule the conference call while the company, and the markets, digests any major news.