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Clinical trial readouts.

Of 367 trial readouts announced by US-listed companies since 2010, 65% were positive and 10% negative.

65%positive
  • Positive65%
  • Mixed or unclear25%
  • Negative10%
  • Median move over the days around a failed readout−48%

Based on 367 cases.

All patternsWhat usually happens after an eventSteady's recordWhat its own audits found wrong, and fixed

Method

How this is measured

Readout windows companies guided to in their filings and releases, and how the results were described when announced. The split counts only readouts that were announced. The move after a failed readout is from the last close two days before the news to the second close after it, against the S&P 500. Measured on Steady's price history, which holds only companies still trading, so companies that later failed are missing and the picture is kinder than it was. A pattern across many companies says little about any one company.

Steady publishes these figures for information only. Nothing here is investment advice.