Blackout period is real. An example is Alcidion, where they have...

Blackout period is real. An example is Alcidion, where they have brought in 2 external directors. They were not allowed to buy due to pending announcements/works that could significantly change the outlook/SP of their business. In Alcidion case - the acquisition of 2 major businesses.

For Medibio, I suspect for the directors to buy in, they either have good results on the confirmatory study or achieve FDA approval. I have a feeling they must achieve the later before the blackout period is lifted. The blackout period from my knowledge is set by the company's trading policy.