Clearly there are investors out there who own this stock only for any announcements
Relating to theIr pipeline. They don't believe in the core business. This was clearly a surprise given the previous data. Normally you would expect a nice sustained move. Instead you got a failed breakout on heavy volume. Not a good day. I'm worried that if the 'expected' ramicirumab is bad this name could get whacked again. Still long but wary after today's action.
San Antonio symposium was mentioned as a possible venue for releasing breast cancer data for Ramu (second week in December) with other readouts possible "this year".
The financial press seems to have missed the DYAX tie-in with today's news. Try doing a google search on DYAX, filter on news, look at past 24 hours - you get zero hits. LLY moved up nicely on the news, so its not a "non-event" - just something DYAX isn't yet getting credit for IMO.