People who closely follow Anavex understand the conference call and what it implies. More or less. The words still leave questions especially as to completion dates and when approximately they may finish extension trials, submissions and etc.
But what about people who have a lot of different stocks and don't follow closely Anavex? They can be confused and wonder what is going on. Especially given the lack of clarity on dates.
If Anavex would have put out a presentation with the call with the details of timelines and dates in an easy-to-understand manner (as the company now understands them), I think that the drop in share price yesterday would have been less or not at all.