Because people do not understand business * The abstracts could not have any new data since it was submitted 3-4 months ago. ASCO does not allow any abstract changes * Today's ARQL PR is of a low quality and it is somewhat confusing
Without new data, a stock price drop is expected.
My take on the data: * To get approved by FDA, an oncology drug must have HR under 0.85 and p under 0.05
* ARQL HCC data are very solid with both ITT (HR~0.65 and p=0.04) and for C-Met+ (HR ~ 0.45 and p=0.02). In Met+ pts, the preliminary OS trend favoring T (HR=0.47). This indicates very good OS benefits!
Buy the rumor, sell the news? I cannot understand the movements in the price of this stock. today's news seemed like good news to me. At least, not bad news. But since ARQL seems so regularly to swing between somewhere in the fives to the high sevens and even low eights, I am giving some thought to buying some more.