1. Is/ was the data presented good, bad or insufficient?
I am not a PhD , however my understanding is the Data on some layers, very good. On no layers bad.
The final comment from the trial investigators indicates Pela would have a much better chance as a first line therapy.
2. what is to come? We don't know for sure. What was said " further results will be presented at ESMO presentations.
that being 20th to 24th.
" if data is good why does SP drop"?
A couple of reasons. Some clear, some speculative.
1. With Onc " the market" wants & needs rock solid business development news. Or extraordinary clinical news. Neither came out today.
2. There is a substantial element of shorting & constant on- line bashers to support the shorting efforts.
3. The N.R. has enough elements of doubt ; next few days could bring about the extraordinary clinical results needed.... or not. I agree the existing findings are well above accepted standard of care results. Yet to an outsider looking for " great" : Not presented that way, YET.
My additional comments,;
looking at both volume & price action, I'd hardly call today a " sell- off".
while there were a few 10k- 40k trades. Most were in the 100-300 block range.
We could ask a much more important question.
if new was so bad , why not a sell- off?
BECAUSE , THE NEWS Is NOT BAD.
if it was the price would be bellow all time lows.
Always two sides to every story.
moving forward, I said Friday time to buy. I still feel that way.
They will be providing more recent & relevant data at ESMO.
again another short wait.
the data presented was dated almost 10 months ago.
The PHDs have interesting rules on cut off dates. Actually does give them something to talk about end of this week.
Now"............for those who can think beyond a few weeks.
They MUST come up with a plan next 2 months, to meet even stretched deadlines of starting phase 3 with PanCAN, by early 2024 as they say.
That must include a B.D. Deal. They do not have $$ resources to go alone.
Roche is the announced co- therapy. So , a matter of what that arrangement looks like.
With ESMO having the spotlight this week & into weekend, I'm expecting a B.D. & final details announcement before end of this month.
Leaving Nov & Dec to out the pieces together.