I find it interesting that the founder and CEO steps down and the stock hardly moves in price. I think that this indicates that the worst case scenario is already built into the price and there is not much downside from here.
The 12/20 FDA rejection is a known fact, so it won't be the cause of the CEO step down, and the prescription number is not so bad for he to step down either. So the CEO's step down more likely opens the door for being bought by someone who was #$%$ off but him.
While I believe Joe Z stepping down is a good thing, the timing is sure not good in my view. He should have announced leaving AFTER the Dec. 20 date. Leaving now gives the impression that any appeal with the FDA or any hope of some kind of resolution re: Anchor is not going to happen. Put yourself in his shoes. If there was a chance something favorable happening in the coming weeks that you have been working on (and banking on), would you not hang around for the result? Take credit? His leaving NOW appears as an admission of defeat before the final results.
The one upside that I am holding all hope for is that his departure will accelerate any chance of a buyout by BP.