Picasso 3 must be great. You don't start new Pali trials unless your Ph 3 is good.
VERY good sign that the Picasso 3 results will be very good imho. Study has been unblinded long enough for them to know how this is gonna read out. Have to tighten calculations and subsets but you don't announce additional trial with the drug unless the results are stellar. My advice to shorts is to cover soon. You don't want to be covering when 12 million other shares are getting covered on good results of Picasso 3 in a few weeks.
You could make an equally valid argument that pali did not work in STS so they are trying to get started on other indications besides SCLC. But in any case, a trial that someone else is paying for is never a bad thing.