Buy the rumour, sell the news. This is a very common trading strategy and there wasn't any efficacy for this clinical update to cause any high gain anyway except safety is being met so the clinical trial is being advanced. No doubt, clinical trial require funds which is why IMU had to raise additional fund when they acquired Azer-Cel so now they are fully funded to run their pipeline of clinical trials to end of Ph2 in parallel especially now with Her-Vaxx being deprioritised.
The volumes traded today wasn't that high and sellers will sell thinking there won't be any news for a while but given the amount of clinical trial run in parallel, I'll be surprised if we had to wait for another 18 months for significant clinical update like last time.
(20min delay)