It's interesting to me how investors will react to news that comes from biotech companies. For those stocks where there's a strong will to believe, almost no bad news is bad enough to derail the story. But when a company has enjoyed a rebound and sits close to a 52-week high, any bad news seems easily blown out of proportion as investors look for an excuse to cash in their gains.
That's about the only explanation that makes much sense to me when seeing how shares of Neurocrine Biosciences (NBIX) are responding to news regarding results from a Phase 2 study and its upcoming pivotal Phase 3 study for lead drug elagolix
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Neurocrine's News Not As Bad As The Market Thinks
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