Not Bad News, Not Good News
. Stock will get punished anyway because of market ADD and STOPS. In any case company made the right move to delay unless certain results reflect true facts. Unfortunately, everyone who bought since 13 Jan is underwater on those purchases as well, justified or not. If perceived as dead money for next couple months some will sell and perhaps buy back in late spring. One could argue that company is not really in any worse position then they were in July 2019. Yes they have a bit less cash, but phase 3 is complete with now confirmed errors that should be able to be explained to satisfaction of FDA. There is no indication that they must do another trial. Sometime between July and September all the facts will come out, including secondary endpoints, which weren't going to be released any earlier than end of calendar Q1 in any event. That 6 month delay is minor overall. Mostly it's all very annoying that this inconsistent and unforseen result happened at all. Patience is definitely a virtue now.