Neutral/Negative Catalysts
- Overhang: the Phase 3 EFZO-FIT trial failed its primary endpoint, which remains the dominant fundamental risk.
- Short-term technical risk: overbought RSI + trading near R1 resistance increases odds of a near-term fade.
- Options tape: heavy put volume dominance today suggests traders are positioning for downside or hedging aggressively.
- Timing: next major catalyst (FDA meeting) is not immediate (mid-April), leaving room for the stock to drift lower beforehand.