Nothing more than bad timing with the storm bearing down. Shorts will try and spin it and the momentum / day traders will bail because that is what they do :) They don't buy on fundamentals, they buy on momentum and this delay could slow down the trajectory. Nothing has changed and the likelihood of FDA approval / GSK buying them hasn't changed since yesterday. The smart money knows this and will act accordingly.
the option market is now anyones guess...... i didn't write the covered calls, although i still may do it this week. The potential for a quick takeout by GSK has me a bit sheepish.. to get a decent premium you can't go higher than $30 which would leave allot of money on the table if it happened quickly. This delay helps so i will likely see how they hold up today and pull the trigger if I can get north of $2 per share for a tidy 8%.... what about you... just holding through the noise