Steve, my thinking is-- what changed from prior to the conf call to after the conf call? Nothing. The story is still the same. Yes this is risky, but not anymore today than last week. Yes it is early stage. Yes they will need funding....no, these facts did not change as a result of the conf call.
The call was a non event -- it did not change any of the fundamentals in the MRIC story, but a large shareholder must have had unrealisitic expectation for how long it will take MRIC to take off... and they decided to liquidate. So they had bad weather on the last day of the qtr and sold one widget in July instead of June...no reason for the stock to go down almost 40%. Was a great opp for trading shares for those invested long term.
Seems a lot of folks are jealous of the great biotech market and are calling it a bubble. John, please let us know if we will see anything like a bubble bursting in biotech...before it happens. Thank you.