I agree with this assessment, the area of disappointment for me is the way they have communicated it.
If you take that 51 podcast on face-value, they didn't even present the phase two data, and the Opthomology area aren't interested in the Neurology outcomes (i.e. headache pain relief) - which is clearly the major end-point that the company is focusing on. I really struggle to understand why they wouldn't have the phase two definitive data in the info back for the FDA consideration.
I don't know why they couldn't say that the EMA has indicated x and that preliminary discussions have started with the FDA, with liaison to ramp up in the coming months.
They appear to have spooked the market by being too specific with the FDA conversations.
With that said, the 65% odds aren't overly exciting when it comes to the FDA, I will continue to hold and unless this get's near the Covid lows, then I will hold and hopefully good news drives this forward.
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