2 cents
I think the stock was halted because the news of the FDA Orphan Drug approval of 4050 for IPF ended up on Bloomberg news, but clearly hadnt been disseminated in an orderly manner by the company. The result was a violent move in the stock, which in itself would merit calls from the TSX compliance group.
Having said that, I candidly dont quite understand why the company would wait to release the actual news til tommorrow pre-market, but suspect it may just be a function of a very busy President, BOD and whatever Committees are involved.
I dont mean to minimize the news whatsoever, because I believe Orphan Drug designation by the FDA for 4050 for an indication like IPF is THE best case scenario for PLI. You need only look at Roche's acqusition of Intermune to extrapolate possibilities, particularly when apparently 4050 has outperformed Intermunes IPF Orphan drug in pre-clinical trials.
I know, I know, I know... its still a fairly long way to market... but its a best case scenaro to this point, that is for sure..... At the very least, the big boys just got more interested in 4050 and PLI overall.... and it doesnt hurt that PLI certainly seems to be gaining cred with the FDA
Candidly not sure exactly how the market reacts tommorrow, cuz Fridays move was pretty good already. What i can say is things are set up very well technically for a move to new highs, and things could potentiall be fairly violent. ( read: fun for longs )
I will certainly be up early, and I can tell you i am unexivocably enjoying all this.
good luck gang.