I think FDA rejection was priced in at around 60c.. The additional 50% drop to low 30s was due to major shareholder doing a big dump due to reducing risk profile etc.. Obviously not enough big buyers to soak up volume so market forces mean the stock is price takes a beating..
At this price it assumes almost the company is worthless.
The other slim chance is the bronchitetasis ph3 results have been leaked and insiders getting out (obviously this will raise questions by ASX).
9year low..., page-29
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