I wouldn't be getting very excited about the bounce. It's likely just the shorters buying shares to cover their positions and locking-in their profits.
I must say I am very disappointed at the announcement - if ever there was a time for a clearer explanation from management it would be this result.
While we don't know if they have more data than in the announcement, they had 2 days to work on this and frankly it is devoid of any detail.
For example 20% lower but unlikely to meet 43% primary with the inclusion of 67 more patients is far different to what we currently have.
The inclusion of Novartis in the announcement was interesting, this usually takes some negotiation/approval - hopefully they've received that. It's hard to tell, given that it is weak enough to not indicate much - but it's about as much as I would have expected Novartis to agree to.
MSB Trading 2020 - a new dawn, page-12611
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