Doesn't look that bad to me. Due to slow intake of participants into a couple big studies some revenue (us$5m) moves to FY24. Important thing is the intake of participants picked up and the studies are still taking place, revenue has not been lost, everything is still looking good. Presumably, some info was leaked via a 3rd party who were looking to acquire a controlling stake in the company. No doubt, thanks to having access to the finances, they could see in the numbers that FY23 guidence would be downgraded, decided to dump whatever shares they had begun to accumulate, and walk away.. then someone has gotten wind of the info and opened some short positions.. hopefully, they are tracked down and prosecuted.. doesn't seem like something management has any control over. Interesting that Cogstate was being weighed up as an acquisition target
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