If you are expecting a pop, you are probably going to be disappointed. I think Davy's Stockbrokers have stated correctly, "There are as many questions as answers" regarding the NEJM articles.
We can take encouragement in the 4th patient perhaps not being pml, and we can begin to see a path forward. The NEJM will be done in an ultra-conservative way and is focused only on the three worst and most public cases. In other words, this is the bad news, and it's not insurmountable.
We really need to hear from Elan and BIIB and have the safety review completed. I think Elan is presenting in a few weeks in Europe and BIIB on the 15. Perhaps they can flesh out a little more of what they are doing to answer specific questions raised by NEJM.
Up, down... MMs making money. Until this is released or the door is shut for good, we go sideways.
FWIW... you have to admit that virtually ALL analysts, reporters, etc. know jack squat about the science or technology. They print what they're told, by the company, by the editor, by whoever butters their bread.
I think the most telling news this week has been affirmation that Avonex is not anywhere as promising as T. BIIB has been undermining their "partner" to maximize their own revenue. In the end, I think the tail will wag that dog, and ELN will wind up on top.