My advise is to get away from this stock ASAP!!! Management clearly is trying to sell all their shares before they release all the negative information. Clear manipulation / management of news releases to ensure stock was going higher and then most likely sold before news was released by the FDA.
Why didn't they release the cancellation of the clinical trials at the same time as the FDA release??? Answer: They needed a few more days to finish off-loading the rest of their stock.
I hope the lawyers have a field day with these guys!!!!