I think there are reasons to be enthusiastic about results (what...

I think there are reasons to be enthusiastic about results (what they have learned from the Intrepid trial - higher doses, longer exposure times, tone of announcements etc), but that incredible enthusiasm we are seeing is also why I am not as bullish about the re-rate on the results solely, as some seem to be. I've been noticing a lot of stocks lately that had high hopes going into a result only to see a muted response (or worse a sell off) upon release of results that are indeed good! It's seems many have created such expectation that if results aren't out of this world they is interpreted as average. Couple this with an area that many retail investors struggle to really understand the potential in or interpretation of results and I just have a small voice telling me to not get carried away right now. Hopefully the results do cause a nice little bump, however I believe the real SP appreciation won't be realised until (if) commercial deals are more concrete.

This does appear to be one of the better bio's at the moment and a good time to get in before results to get the best possible return (potentially), but it is still very risky and I just think everyone would be wise to take a step back and play devils advocate a little with the various SP projections being thrown around etc!