The price and volume increase over past two days in absence of...

The price and volume increase over past two days in absence of news I believe is because Amgen announced yesterday that their RAS inhibitor Ludakras got FDA approval on a paltry 124 patient phase 2 trial and a mere 36% response rate - and no survival data at all! Such is the enthusiasm and unmet need for RAS inhibitors.
Since PTX is well along the way in two phase one trials - with at least one observed response, (even though this is not the object of phase one) - a 124 patient phase 2 is a very likely proposition for this company. and hence it looks very cheap.
Given the volume entering I suspect this was insto money, maybe even overseas.
In responding to the speedo today, PTX missed the opportunity to educate the market about the AMGEN trial and the low hurdle needed to get FDA approval for these types of agents. I had thought that this might have led to uneducated holders selling into the volume, but after some thought I agree more likely funds that love to sell out on big volume days. In my experience this has been the modus operandi of AEF, for eg on ANP. The result today has been to create a gravestone doji candle on the chart on large volume, which is pretty ugly.
I think overall, the AMGEN FDA approval is really good news for PTX, as is the large volume we have seen, and hopefully setting a new base around here. Lots to look forward to in this company.