Contribution to the plethora of press releases

I know that press releases are required through various stages of a clinical development program, especially when results of a trial are released. But some companies are writing them for everything, including the “last visit for the last patient”: in a Phase II trial (not even a big, important, pivotal trial).

Is this really required? Or is somebody just so scared of an SEC(Securities Exchange Commission) investigation that they will just press release everything that may or may not materially affect stock price? Someone please explain this to me.

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