results- what results, page-13

I think you will find that when a Company announces "commencement" of a trial, it is commencing recruitment. Recruitment, in my experience, is always a problem in clinical trials. The criteria are so narrow - not too sick and not too well for a start. This alone rules out most candidates. Lupus has a particular problem. It is predominately a disease of females and if the disease is not advanced they are likely to be of child bearing age. Trials will have to insist that such subjects are on medical supervised contraception. This is pretty personal and will deter a lot of suitable candidates. It is not surprising if results are not available in short order.
As to price, the decline is fully explained by lack of information. It simply signals a buying opportunity for the experienced players.