Getting smashed after a poor trial result is the nature of the pharma business, just as it is for oil & gas if your latest drill doesn't show. It's obviously worse for the smaller caps with only a few drugs in the pipeline.
As for BIT, the share price softening over the last few days is probably more to do with peeps taking the profit on the options conversion and selling the shares, and the odd nervous nellies wanting to get out in case the results are poor.
Chart update, page-14
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