Reasonable vs Insane Reaction to Yesterday's ADCOMInsane reaction:
-That yesterday's adcom decision "does not matter" and that MCNA is likely to be approved in February
Reasonable reaction:
-That Telesta management has an opportunity between now and February to dig deeper into their data and submit to the FDA prior to February, and the FDA might consider approval with a restricted label. This is what happened with Valstar.
-That Telesta still has a huge opportunity outside of the US. Partnership agreements are in place. Ariad stock price got crushed when the FDA halted US sales, but their product has sold well outside of the US and the share price has rised accordingly.
-Telesta mangement really needs to step their game up. There were straightforward questions that management was not able to answer yesterday. Not knowing how much you are intending to charge for the product? Not really understanding who was treated within their clinical trial? Unacceptable.