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April Big Mover Events Moved Despite FDA Delays

Based on our April 2021 data (See Table below), the Big Mover™ analysis again appears to identify companies that are likely to move over 20% based on a clinical trial readout. Unfortunately, the FDA did not meet their PDUFA target date for 2 of the 3 PDUFA April 2021 Big Mover™ events. Despite this, 2 of the 3 companies affected by the FDA delay are still up over 20% between 3/30/21 and 4/30/21, even though all 3 companies moved down by over 10% when it was announced that the FDA was not hitting their target date. We still wait for CVM's readout, which despite the length and complexity of that trial appears to be taking an exceedingly long time to report out. APTX was the only company that had an event that read out that did not move by over 20%. In fact, despite further "positive" details regarding APTX's post-traumatic stress disorder trial, the stock was down 6%. The market apparently saw these detailed results as not quite as positive as the topline results.

April 2021 Big-Mover performance 3/30/21 to 4/30/21

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