Ann: Positive Phase 1 MEND Study Top-Line Results, page-115

I think most will have had this planned (traders or people other than LTHs). Buy the rumour (last few weeks), sell the news.

News is: potentially great treatment (MT stressing only phase1 and not statistical), needs funding (99% likely credit raise), ODD still a few months off, and will be a long wait before any future big re rate (phase 2 completion mid 2025).

Definitely disappointing but I think the hype of the last few weeks had burnt out and now many just see a long wait.

Anyway, I and I'm sure other LTHs will continue to hold.

I'm still hoping for BP to come knocking and take us out now for 2.5 - 4 billion USD. But this is unlikely also, when they can wait another 12 months to see phase 2 results.