Profit taking, some investors would be at a free carry going into a binary decision. Money back in the account, shares riding on the table.. From experience Biotechs hit a sweet spot about 3 weeks out from Phase II results, those that have purchased for the long game hold, those who wanted a quick hit have sold ,,, you will have a couple of die hards top up as the results day approaches ,, MC usually hits Circa $100m on results week... then you also have the last minutes, FOMO and that the monthly graph looks like a winner to be in on..... as you know the market does what the market does... sometimes no Rhyme of reason???Well done for those that came in on the 4c and 5c run
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