Ann: Preliminary Top-line Results from SMARTCOUGH-C Study, page-402

In June 2016, I bought Novavax (a biotech company listed on the Nasdaq). By September 2016, I was up 25% and lulled into a false sense of security by the hype US forums were cultivating - until I woke up one morning in September to find the stock had crashed 82% overnight on failed clinical trial results. Sold out the next day. Have never touched a biotech/pharma stock again - you only ever need it to happen once.

So to everyone who was mauled by RAP yesterday; no one could have seen it coming (except management, probably), so try not to feel too miserable. Try and turn the experience into some form of a lesson - it doesn't need to be as extreme as my own.

Wait to see what today brings, you may find the SP bounces as value hunters or traders enter. However, unless anything material develops today - as hard as it is, I would recommend taking the loss and moving on. Since I got out of Novavax, which was nearly one year ago, the SP has continued to gradually decline a further 33%.

Just trying to help through providing insight into my own experiences; make do with it as you will.