There's nothing here the market didn't already know given the quality of the results. FDA nod was a given after EMA gave the thumbs up, just a matter of when. But positive news always helps!
Price action is following a technical pattern that started with a break out of the down trend line on the 4th- chart players will wait for a few days for the breakout to be confirmed. This news just kicks along what was already happening, imo.
FDA approval of BMS relatlimab and up coming results in head and neck are the key drivers.There's uncertainty around the the phase3 and if they will partner, so I don't think the market sees it as a positive atm because no partner means big capital raise at some point. Also, no partner would raise question marks over the importance of the trial. Question marks here for the market. So ph3 is neutral( possibly negative) driver on share price for the time being, imo.
Cheers
There's uncertainty around the the phase3 and if they will...
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42.0¢ |
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Mkt cap ! $598.3M | |||
| Open | High | Low | Value | Volume |
| 41.5¢ | 42.5¢ | 41.0¢ | $1.132M | 2.721M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 15565 | 41.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 246989 | 7 |
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