The manufacturing deal is already done.
The only remaining question is if the imputed efficiency in the headline data translates. The follow to that is if the FDA will allow them to skip a third data trial or not.
The $1.75 drop From the high is the same group that dumped 9M shares on this at $10 which caused the drop to $4. This time it was 4M shares and was immediately bought back.
There are millions of shares short on this.