In light of the recent breakthrough presentation of post phase 1 data for imetelstat @ the ASH conference on Monday it got me back to thinking of when TSRX presented data for their early studies on their key pipeline drug. TSRX's SP following the Biotech conference and a presentation at ECCMID in April 2013 was followed by a sharp rise and an eventual buyout by Cubist(one of 3 contenders I might add) by mid summer.
GERN's earlier findings followed a report that was detailed at the18th Annual Congress of the European Hematology Association in 2013 showing a 100% hematologic response rate in 18 patients with essential thrombocytopenia treated with imetelstat, including 16 complete responses. Those results added to a favorable report at last year's 2012 ASH Annual Meeting involving fewer patients and a shorter duration of follow-up. Those studies showed that imetelstat reduces platelet counts, and laboratory studies demonstrated selective inhibition of proliferation of malignant progenitors and good distribution of the drug to bone marrow obtained from patients with ET. Outcomes of these preceding studies led to the recent pilot study at the Mayo Clinic to evaluate imetelstat in myeloid malignancies. The steller data on this recent pilot study was released(leaked earlier) during this past Monday's 2013 DEC. ASH Annual Meeting.
The similarities are similar in timing of both company's actions wrt a buyout paradigm. GERN has the goods, now BIG pharma can show us the money.
well they had a nice run up to last months high of $70+ so I'd expect profit taking and tax sell off issues at work. They still have TSRX's pipeline with some interesting antibiotic seaweed data stuff yet to come.
The market generally has taken a rest. I'm sure GERN would have responded much better to trial study data results earlier this week had it been a green market the last two days. This is where shorts can do a great deal of damage to the market's overall sentiment. Scare off what little retail is left and the big hedge funds will be trading amongst themselves. Many are on the sidelines not convinced of the weak recovery in place.