I don't know what people are getting so worked up over. All this is is a retraction of premature statements that have been made regarding their research. Websites have been promoting Replicel as the one who is going to give us the cure to baldness within the next few years. All that they are doing is retracting those statements - even though they could very well be true, it is far too early to be saying things like that as they are barely done with phase I at this point.
People seem to be easily swayed by every little thing that happens here. Everyone jumps for joy when their stock rises and calls the company a failure when they issue a press release like this, that only tells us what is practical and true - that it is too early to laud them as the curers of baldness. It's the big picture that matters, not every little press release and stock change. I know we all want this to work, so it's frustrating having to wait to see the big picture, but that's reality.
We know absolutely nothing until we actually see results. This press release means nothing in terms of actual results.
And Northman is right, it's a general rule of PR that you bury your bad news on a Friday (because less people read the Saturday papers) and announce good news at the beginning of the week. So if they really were purposefully waiting to announce the news on Monday, it could very well be good news.
Even if it's not what we're hoping for, Replicel is not the only company currently in trials. Aderans is starting phase II, and Histogen has started official trials as well.