Gary, I have seen these kinds of moves many times, and, simply put, it is retail trader momentum plus HFTs buying up cheap stocks.
I just want to remind everyone that the upcoming P2b data is a dose-escalation study with 4 dosing groups. The highest group is less than 1000mg, which is the dosage for the P2. The lowest dosing group is *designed* to be ineffective. Please be mindful of this when viewing the upcoming data!
That's not entirely accurate. You should look at the FDA's website and thoroughly check out its mission. Maybe it will open your eyes and help you make better investment decisions!
"FDA is responsible for protecting the public health by assuring the safety, efficacy and security of human and veterinary drugs, biological products, medical devices, our nation’s food supply, cosmetics, and products that emit radiation."
"FDA is also responsible for advancing the public health by helping to speed innovations that make medicines more effective, safer, and more affordable and by helping the public get the accurate, science-based information they need to use medicines and foods to maintain and improve their health. FDA also has responsibility for regulating the manufacturing, marketing and distribution of tobacco products to protect the public health and to reduce tobacco use by minors."
""FDA also plays a significant role in the Nation’s counterterrorism capability. FDA fulfills this responsibility by ensuring the security of the food supply and by fostering development of medical products to respond to deliberate and naturally emerging public health threats."
I hold a fair amount of shares and a lot of bios are booming. Shorts are fighting the tape on AERI hard, though. (a lot of volume today)
It is still all just talk right now... however there is a lot of criminality in the stock market and the SEC is in tatters.
"Why has it dropped from the 30s?"
Shorts, fear, fraud, China, Iran, biotech meltdown, Hillary and Trump and Bernie saying drugs will be free -- take your pick.
"And what is the prediction for tomorrow?"
Going by the description on their site, they try to regulate things from a distance instead of doing it directly.
Let me add that the CCO said in-house. I don't know if they will give us peasants 304 data but if management sees it they need to disclose within 4 days.
Historical control data will be available later, but the full 304 data is going to be available this month.