"This is a common occurrence for start up biotechs."
If you're talking about swings in share price, I agree.
If you're talking about getting subpoenaed by the SEC, you're wrong.
From clinicaltrials.gov: The primary objective of this Phase 2a study is to evaluate the maximal tolerated dose of ANAVEX2-73 in patients with AD in a repeated-dose administration scheme, with the secondary objectives being to explore the relationship between dosing regimen and pharmacodynamics efficacy outcomes and to evaluate the bioavailability of the oral form used and to explore the relationship of ANAVEX2-73 as add-on therapy to AD standard of care.
Also since most of the patients in the trial were already taking donepezil any comparison between 2-73 and 2-73/donepezil combo would to dubious at best.
Actually it won't because the trial wasn't powered to show statistical significance.
You'll have to wait for the phase 2B/3 trial results.
The fact that he only posted the first part of the final paragraph shows you his motivation.
A balanced approach would be better.
"If not, however, a complete lack of clinical-stage candidates to fall back on could result in heavy losses. With the extremely limited clinical data to base a decision on, it's hardly worth the risk."
The lead investigator gave the author of a Seeking Alpha article trial patient's comments.
So I don't think there is any FDA regulation preventing patients/caregivers from talking.