Today's presentation was in my opinion exceptionally good news. The entire effect is clearly concentrated around CKD patients - a large group of patients with a huge unmet medical need. And the effect is outstandingly good. The effect was also consistent across all endpoints. Again a very good sign.

When the effect is so large (50% reduction), the number of events needed to show a significant effect is reduced, which makes for a faster, smaller and less expensive trial. Very good indeed.

CKD was a pre-specified subgroup, keep that in mind.

As for the share price drop as I write this, I think it is highly suspect to see the share price fall 20% or so after having listened to extremely promising results being presented. It reminds me of a trading pattern I noticed a couple of years ago, where the pre-market bid/ask quotes were looking suspicious with bid/ask being very close and much lower than the closing price the day before - and the volume was persistently 100 shares larger on the buy side. As soon as I pointed this out in a post on this forum, the phenomenon disappeared. Strange. Moreover, at the same time, a certain person or probably group of people kept bashing the stock.

Watch out for people who claim that todays presentation is a joke or similar.

BR

BKC