$ERNA is up 55% pre-market on "complete tumor clearance in ovarian cancer models"—a grand way of saying they had promising results in mice.
Before you market-order the open, let's look at the numbers. On the 12 occasions $ERNA has had a gap-up day of 5% or more, it has faded to close red 67% of the time. The median intraday return is -6.10%.
Across 2,881 similar catalyst-driven gaps in this sector, the stock closes red 65% of the time. Pre-clinical hype is the ultimate retail trap.
Enjoy the pre-market green. History suggests the afternoon belongs to the sellers.