RE: FARN9 May 2018 07:41
Morning Westie. It's just LSE/market mentality.
If a share loses 80%, then is simply *has* to be oversold and simply *has* to go up, doesn't it?!! Pointless putting up facts re. facts yday re the RNS as most dont want to know.
It cld potentially bounce on the fact that if enough pis buy in to trade it will have a bounce but look at the RNS:
'' INTEREST study did not meet the primary composite end point for efficacy''
''Both Traumakine and placebo reported similar all cause mortality rates at day 28 and at day 90, with no difference in the number of ventilator free days''
''Dr Markku Jalkanen, CEO of Faron, said: "We are incredibly disappointed and surprised by these results.''
Even the CEO cannot disguise the failure of CT stage3 which has an objective to measure the 'efficacy' of a drug (and safety). Yet it clearly failed 100% in its endpoint ie the efficacy. It failed in meeting the main objective.
How much more clearer cld it be written?! The drug cannot be advanced at this time as it failed. In fact, a patient is more likely to stay alive by not taking or doing anything!
Pis still stating the drop is overdone?!! How can it be overdone? If your product fails on which your company's future is reliant upon, esp in pharma, how can the drop be overdone?
I accept they have a pipeline but no guarantee re. those yet.
It wldnt surprise me if this fell further but at the same time, with the mentality of pis abt share drops being overdone yet not understanding the RNS's implications, it also wldnt surprise me if this bounces quite a bit...only to then drop once more.....
My mind is beyond the stage of being boggled! GL;)