ASCO Springs a Leak Again
Editor's Note: Adam Feuerstein's coverage of this weekend's ASCO conference will be featured on both RealMoney and TheStreet.com. However, Adam's follow-up analysis and regular biotech commentary appear exclusively on RealMoney. If you're not a regular RealMoney subscriber and are interested in reading more about this sector, please click here for a free trial.
What's becoming a recurring story at the American Society of Clinical Oncology's annual convention played out again Friday: The early release of -- and subsequent trading on -- supposedly restricted information from drug abstracts.
On the last day of regular trading before drug abstracts are officially released, abstract data that the organization embargoed flew around, in frantic phone calls, in emails and in analysts' notes. And shares of the companies involved moved as well.
How? Abstracts were distributed to conference attendees as they registered early Friday morning. That gave some of them a chance to study, share and trade on the information. ...
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