No way to know based on today. We've all seen it go both ways - big runs up and then, bam! bad data, and we've seen the opposite - falling share price right into a blockbuster announcement. In this case, quite a few have made a nice score on this over the past 3 months and a percentage of them always intended to sell today, in the hope of one last run up before the data comes out. A lot people will not hold a biotech going into clinical results because it is such a #$%$ shoot. I am relaxed because of the trend over the past several months and am not concerned about today or the last week. I even bought more today at 3.70.
perfectly stated eme.....most of these players have never held for results and generally I think that's a smart move. But not now, not here. And like you say, we all know about big Gern runups before some spinetingling announcement of making the lame walk or whatever. Bam, sinks like a mobster tossed into the east rive wearing cement overshoes.