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The Phase 2 Data readout can be very significant, because even though the main purpose of the Phase 2 is safety, they release a lot of efficacy data at this point and it can light a fire under traders if it’s very strong. Having said that, after the event the price tends to trail back off until a more important catalyst that has some staying power.
The date on our Calendar is the LAST date it could be based on the previous information released in the last ER.