Seems like a new trend to me: Panel approves, then agency rejects. Happening with all bios lately
Panel approves, give it a thumbs up, and all that. Stock pops based on that. But agency (US or foreign, doesnt matter) approval is months away, and until then the stock collapses steadily. and then Agency finally rejects or puts some type of roadblock or obstacles and the stock hits new lows, lower than where it was before
Aren't we seeing that now as a COMMON recurring trend with most bio stocks, day in and day out????
that's why , when I hear the words "panel recommends" in the news, I get ready to SHORT on the good news
no i dont know what it means. It could get a dozen orphan drug status and 7 different agency approvals for a pill for eternal youth if they create one, for ALL I CARE, as long as the stock opens high at $40 and then drops to $19 by close.
Open high + Close low is what is important to make money SHORTING,not the other way around. that's why i love such fake pops