Even if it is bad news, why the heck is MAPP waiting so long to release any news. The market is close now. Why are they still waiting? Do they enjoy torturing share holders?
You are all obviously novice investors in Pharma. You obviously don't work in pharma either. The FDA will wait until just after 5pm eastern time to let them know. At that time they will get a fax. By law, they can't hold back the information. They will send out a press release right afer they get it. If it is negative they will have lawyers look at it to spin it the right way and then send out a press release.
I got no skin in the game but this sounds like a CRL. If it is approval, FDA will say that it cannot release this kind of information. If it is CRL, FDA will refer callers to the company for information. It seems like a pattern observed in several occasions.
It is not the FDA and government who are holding this up.
The FDA has already given the news to MAPP. Hence the halt.
The ball is in MAPP's court now. All the have to do is issue a press release and then the stock starts trading again.
Why is MAPP sitting on the FDA response? What is taking so long?