lost momentum

I just watched this stock open after their announcement yesterday... just lost all momentum after that gap up on the open by unexperienced traders.

Should retrace back to 30c odd very soon I think.

Any other opinion?

The drug hasn't even started Phase II trials, why is the market excited? We weren't told exactly what the positive result was only that there was one. My experience is that that means there was no "cure" or outstanding result but simply that there was a better than placebo effect.

Anyhow, will be an interesting one to watch in future.

Has anyone followed this stock closely? Is there more to this announcement than meets the eye? Also note the insider trading that went on the last two days.

Cheers,
Munhc.