I note some of the comments about timing of this announcement and ASX compliance rules etc. Don't get me wrong, I love a conspiracy as much, if not more than the next guy. I should also note that I have been critical of management when it comes to promotion of our pipeline. I don't think they hype as well other companies do.
Those things being said, I don't think that there is law breaking or conspiracy here. I think what we are seeing is exceptional management - it really is top draw in this instance.
Management would know when Acadia is releasing their Q2 results. They would have also worked very hard with the Anglemans trial to ensure that there was a hard deadline for results of today (or after hours yesterday).
If Q2 results from Acadia met and/or exceeded guidance then I think there would have been a trading pause, but only until lunch time (ish) to review the results and then release an announcement. I suspect that they would have templates for a range of trial outcomes and just plug the data in based on the outcome, so its a quick turnaround and they have a HUGE day off the back of two announcements.
If Q2 results missed guidance and/or were ok but did not shoot the lights out, they have a trading halt and take the heat out of the reaction and once the dust settles, they get the message out that while Acadia guidance was missed and downgraded, patient numbers actually grew, dropouts lessened and hey, look over here, we have Anglemans results to focus on.
I think its a sign of competent management.
Notwithstanding the frustration on my end about the continually undervalued SP It reinforces to me that we are in good hands for the end game here and that is all that matters ultimately in my view.
NEU Price at posting:
$17.09 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)