I disagree. I think its great for AVEO but cant figure out why Merck would do it. I really cant figure out why now. Especially after getting through stage two and stage three results less than a year away. If the drug gets approved (which I feel it will) then Aveo stands more to gain be it distribution or selling the rights to another distributer. Of course it all hinges on the success of the drug. I own it due to its success in treating my father and after listening to the oncologists at Sloan speaking favorably of the drogs efficiency
PFizer dumped celldex on cancer vaccine not long ago, positive data just released on the very vaccine they just dumped. I think some of these big pharma may be reviewing drug partnerships and trimming costs, maybe they need a certain revenue projection to be met and if not axe it. Big pharma facing a lot of patent issues, and this may be good buisness decision by merk to trim overhead now, regardless if its good or not.
For AVEO to move AV-299 forward by themselves, they will have to raise additional money. They previously stated they have enough money to move the P3 trial for their lead program forward, but they won't have enough for this one in addition.
Agree that it is surprising that PPS is up today on this news.