You say "Whenever an event was meant to be a positive "piovital"/"milestone" event, the shareprice rose in anticipation of the release.....".

I only recall once or twice where there was an "anticipation" run up.  My recollection is that virtually every time there was a run up, it was in response to published news that wasn't necessarily expected.  This is true of virtually every new licensee, as well as all other events. So citing this as a real "pattern" isn't really true, is it?  Twice in three years versus how many events?  50?  Not what I'd call a "trend".

JMHO,

SDE