Jan. 13 at 9:53 PM
$TARA After considering everything, it's pretty obvious what's happening, IMO. TARA announced premarket on Wed., Jan. 7, that it would be presenting at JP Morgan tomorrow, the 14th. TARA had closed at 5.12/share on the 6th. It gapped up on the news Wednesday on over 1.2M shares to reach 5.87 & close at 5.69. It closed at 5.75 on Friday, the 9th. Investors wondered if bladder cancer news expected this quarter w/be presented at JP Morgan, IMO.
But yesterday, the 12th, news came out premarket and provided a corporate update. I believe the following quote brought in the selling:
"in BCG-Naïve NMIBC patients, we look forward to providing an interim update on the registrational BCG-Unresponsive trial later this quarter.”
The sentence says a lot..."we look forward"...that should ease concerns of any bad news at JP Morgan tomorrow.
But, "later this quarter" tells the market no results tomorrow...thus it ran up last week on expecting news tomorrow and has fallen now that it's not expected. JMO