RE: phase 1 trialsGood post.
I did my own DD as well and decided to get my fins wet on this one.
Apparently AHX has submitted an Exherin PI trial abstract for presentation at the ASCO 2004 Conference in June (this is also when they are expected to release the P1 results). I find it unlikely that they would pick the highest profile oncology event to showcase poor results--unless they want to put a spotlight on a failed trial in front of the world's leading cancer researchers.
My gut tells me they have seen some positive indications and want to make the biggest splash possible. This should be good for a ramp up before the conference and a sharp spike on the PI news release.
The next few NRs that should come out in the near term include:
- completion of Exherin P1 trial
- initiation of a pivotal PIII tial for STS
Later this year:
- initiation of a PI/II NAC study
- further PI/II study for Mesna
- initiation of PI/II Exherin trials in the US
This company now has buckets of cash, so they can go full tilt on advacing the drugs in their pipeline. It looks like the smart money believes in them, so let's take her up boys.
PS - Cannacord's Daily newsletter for yesterday (26 Feb., 2004) rates AHX a spec buy with a target of $1.00. That's nice, but it will be even better when they take it up to $1.75 in June.
All IMO of course.