To me it's simple.
A bunch bought in the last few weeks in the big run up. Good news was released last night, price shot up momentarily this morning, and then profit taking started and hasn't stopped. Likely lots of non-long-term holders, traders, call them what you will. Possibly also many saying "oh well its another 18 months of waiting, I'm out".
Unfortunate but I don't think it is any more sinister or complex than that.
I'm less worried about the average punter and more worried about what big pharma think. Given all we have been led to believe about interest in the space, how could we not be approached in the very near future by interested parties. To not get interest would be a concerning sign. Kind of like the 'dog commercial discussions' that Roger has been in for 10 years.
The only way I see is that BP don't think the results statistically are that good (i.e. not meaningful enough to risk $$$$). If we get no partnering interest etc then I will be concerned especially when MT throwing around deals done off the back of pre-clinical drugs etc.
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