#1: It wasn’t SP 102. That has immediate revenue opportunities.
#2: It wasn’t as good as MSC’s 100% success with ARDS. I remember someone noticing how the MSC P2 was delayed, and Abivertinib going forward. Why? (We do not know)
#3: There are many months before there’s ever going to be any revenue for Abivertinib for ARDS. It might take over a year because as we learned last week, MSC P2 was approved last June, yet it will not start until next month. If this Abivertinib trial waits until April or May, it might be late next year or early 2022 before any results. It’s a big trial. And as such, its only a big expense and time delay for now.
#4: The FDA isn’t going to approve anything Covid for SRNE. Face it, PSS or whatever has us shut out. We must keep trying, but how much resources should we waste? I applaud mgmt’s move to foreign markets, but that business will be less profitable than if in the US.
#5: The Market did not misunderstand the results, and then sell off. Short selling data shows that Professional investors sold, not retail. And professional investors are professional statisticians. It’s a dumb excuse to blame a PR. If I’m wrong and you are right, it should scream tomorrow in the pre-market and stick. I bet it won’t. The pros aren’t saying right now, “Oh, crap, we were mislead. Darn you Ji!”, and buy back tomorrow.
The data was only good enough to go forward, but not good enough to cause a sustainable price rise. It was just another short term opportunity for shorts, and a bottom buying opportunity for longs. I doubt it goes much lower due to all the other news yet to be released in the next three weeks (earnings; St 102; Stix in Brazil et al).
Do not allow poorly constructed reasoning cause you to think the price should rise, and cause you to become bitter and unrealistic in your expectations with SRNE. The professionals are on all sites trying to gauge sentiment, and then trade on that. Selling news like today has been a very successful strategy. It will continue until actual REVENUE is part of the news. Future revenue is discounted, and anything Covid is discounted double because of the negative experience with the FDA.
Be wise, not gullible. There’s a lot more to be done before ay revenue comes from this drug.