Advisory Committee (AdComm) meetings

When outside experts publicly vote on a drug before the FDA decides.

For some applications the FDA convenes an Advisory Committee — independent experts who review the data and vote a recommendation. The vote is non-binding, but the FDA usually follows it.

Why they're high-volatility

The FDA's briefing documents are often released a couple of days before the meeting and can move the stock sharply on their own. The vote itself is a public, binary event watched in real time.

What to watch

The FDA's own briefing documents (the staff review) — frequently the bigger surprise.
The vote tally and the panel's discussion of safety vs. efficacy.
Not every drug gets an AdComm — the FDA picks contested or novel cases.

Educational only — not financial advice.