Well, alternatively, it could be that they are using this time to negotiate with other countries or other entities (government finders, Pharm’s, etc). I do suspect the most likely message is “the numbers look good - finish the trial”. However, there can be a lot of room for negotiation within that message that needs time to discuss with interested parties.
“The most likely reason is that they know the news will not be received well by the market and the stock price will drop.”
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