Volume has been extremely low, so hard to interpret the recent price movement. It probably doesn't mean much. This stock does seem to demonstrate lots of downward pressure prior to these scheduled events.
Case in point: On Oct 29, 2013, the stock closed at 11.23. In the next few days running up to the earnings call, it dropped to 8.28 (11/5). After the solid, on track, earnings report, it jumped back to 11.64 on 11/8. All that happened on higher volume than what we are experiencing now.
Makes me seasick.
I think that the price activity and volume during the week of the actual CHMP meeting will be more telling.
Short selling, in anticipation of a CHMP rejection. However, should the CHMP decide favorably on vintafolide and the companion diagnostic, ECYT share price is poised to rocket as these short sellers are forced to cover with their tails between their legs.