Tuesday, March 20, 2012

Adam Feuerstein Is Exactly Right: EASL Offers Easily-Abused Selective Liver Study Disclosure To Hedge Funds, Etc.

This has, quite-frankly, long troubled me. I am excited to see someone -- anyone -- making a larger issue of it. It has impacted, and will, in the future, certainly continue to impact the stock prices of the participants in the next-gen Hep C wars. And more than occasionally, it will do so in non-transparent ways -- conferring significant trading (and thus financial) benefits upon Wall Street's high-powered-elite: the hedge funds and largest portfolio managers.

Writing for The Street, Adam hits the nail on the head, here:

. . . .But if you want an advance look at potentially market-moving hepatitis C drug data, you'll have to be an EASL member or a registered attendee of the EASL meeting -- a group which includes hedge fund and mutual fund portfolio managers and sell-side analysts, all of whom can pay for early access.

EASL plans to selectively distribute hepatitis C drug research abstracts to these folks on Thursday. The same documents will not be made available to the public. That means a select group of investors will have access to potentially stock-moving clinical data while a majority of investors will be kept in the dark. . . .

Exactly right. The EASL conference selective disclosure/embargo system needs to be reworked -- there is scant legitimate reason to suggest that EASL members need advance access.


Condor said...

UPDATE: Now Bloomberg is reporting that the advance/embargo date will be March 27, 2012 -- still several days in advance of public availability. The proffered reason fro the delay from the 22nd, to the 27th, is "technical issues".

Hmmmm. . . maybe Adam is having an impact?

We shall see.


Condor said...


According to Adam's latest, over at the Street, the top brass at EASL relented -- abstracts to be made available to the public on April 4, 2012 -- at exactly the same time that EASL members (including hedge funds, and portfolio managers) will receive access to them.

Way to go, Adam!

Medical Billing Software said...

This is really an eye opener...there are articles like these that we should read more and with care so that we understand more about healthcare.