How Did Today's Zosano Pharma Short Call From Martin Shkreli Play Out?

Zosano Pharma Corp ZSAN opened 78 percent higher Monday on news that it met both co-primary endpoints in the ZOTRIP pivotal efficacy migraine trial.

However, the effect was swiftly mitigated by Martin Shkreli’s Facebook Inc FB post contradicting investor instinct.

Following the post, Zosano shares fell 2.6 percent on high volume to a low of $1.92.

Competitor Immunomedics, Inc. IMMU, which had tanked more than 7 percent on Zosano’s initial announcement, did not recover off Shkreli’s post. At the time of publication, the stock was trading down 8.3 percent from its opening price.