What is a Phase 3 readout?

The announcement of pivotal trial results — the binary event biotech investing is built around.

Phase 3 trials are the large, registrational studies that support a marketing application. A 'readout' is the topline disclosure of whether the primary endpoint was met.

Because success or failure re-prices the entire company, traders track readout windows months ahead. Registered primary completion dates (which we surface as estimated windows) anchor those expectations; company guidance sharpens them.

See it live: the catalyst calendar · status-change feed