That is correct.
Our whole little world is scouring the terrain for tea leaves -- anything that will indicate whatever tiny morsel of evidence one way or the other regarding the trial
The company reports over and over again that they are completely blinded, but we always suspect "somebody knows something"... don't we?
The tea leaves have been twisted as of late, because:
- They did a big raise in January, making people wonder about the company's own confidence in the trial, and
- A competitor in the space had a successful Phase III trial, and
- Information on these boards surfaced that the trial may be overloaded in the Ukraine, making people wonder if the results will be skewed by that, and
- They just canned the Chief Commercial Officer months before Phase III results are due, and of course no one knows precisely why
All of these things count as at least yellow flags. In the grand scheme of things, none of them individually, nor all of them together, count as a RED flag in my book... but it's all the market has to work with right now, and it reacts accordingly.
So it's either a warning, or a buying opportunity. We will only know in retrospect which one it was.