FOI - POINTS TO PEP11 APPROVAL, page-147

Let’s face it, the only reason you invest in something like this, before approval, is to get the SP spike of the approval, as the cherry on top. This has been around too long and people know it too well, for that spike to anything significant and worthy of the gamble. If you simply wait until approval, then you’ll still get most of the rise in price.

It’s been battered around too many times, with too much uncertainty, to be a stock that will get any significant jump on approval. So, the only smart thing to do is wait for approval, then buy in, if you still deem it worth it.