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Astex Pharmaceuticals, Inc. Message Board

  • michaelplongo michaelplongo May 3, 2013 12:05 AM Flag

    Another post Conf Call reiteration of $8/sh by Michael King of JMP

    This is a repost of info I saw in the market pulse section, linked by streetwise, to a thelifescience post:
    Michael King, JMP Securities (4/30/13) "Enrollment in Astex Pharmaceuticals Inc.'s SGI-110 phase 2 expansion cohorts is half complete, while updates from phase 1 duration of response are anticipated at the European Hematology Association meeting as the company reports Q1/13 earnings. We reiterate our Market Outperform rating and $8 price target based on discounted cash flow, sum-of-the-parts and comparable company valuation methodologies."

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    • The market cap of ASTX is ridiculously low. The price will increase to fair value imo.

    • I would like to point out that he states "duration of response" rather than response rate. In the CC's follow up question session, management spoke of duration of response being more critical than response rate. The longer the duration (SGI-110 has longer half-life and stays at effective levels in blood longer), the better the outcome. This was always the reason SGI-110 was touted as the super Dacogen.
      Since there isn't much data correlating response rates and CR's/success, duration of response may be the new barometer for measuring hypomethylation vis-a-vis Vidaza and Dacogen. Maybe this will be the way to get approval. IT'S THE QUALITY OF THE RESPONSE, NOT HOW MANY PEOPLE RESPOND.

 
ASTX
8.4950.000(0.00%)Oct 10 4:00 PMEDT

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