atl1102 ph11a & 11b, page-16

"I think we need something a bit more solid than "we started injecting apes" before we see any real movement in SP. Everyone already knew the trial was going to begin, so this wasn't exactly news.

Like you said it was already a known development and one with the endpoint inline with others already expected into 2014. There is really no more impetus than there was previously as 1H 2014 still remains the crux for current trials in both ATL-1102 Toxicology and ATL-1103 Phase II. With 6 months still remaining in the calendar year and undeniably uncertain markets it's quite foreseeable that investors bide time.

"wouldnt they know the safety profile of this drug when they completed phase 2 trial in ms patients?"

Well obviously TEVA thought differently and were not yet convinced with any certainty hence why they pointed to the extended toxicology study. Whether ANP management had different views or not it was obviously a course of action that had to be taken considering the ex licensee had walked on it and if they are looking to license it again elsewhere.