Probably no coincidence that Roche announcement comes close to upcoming Amgen announcement. Bind have publicly stated that the collaborations take up a lot of their time, and thus have to be very selective about picking them. As per the terms of the agreement with Amgen: "If Amgen exercises its option, it will be solely responsible for all further development and commercialization activities". A possibility is that Amgen is exercising its option, freeing up more of Bind's resources for other collaborations. If indeed the mystery PI3K pathway kinase inhibitor is Amgen's, those would be some impressive data to give up on. An alternative is that Amgen is not pursuing its option, Bind is not further developing the Amgen compound, and this announcement is a bit of damage limitation ahead of bad news. My money, literally, is on the first scenario. In any case, it's good to see Bind getting its fingers strongly into non-oncology applications with Roche (probably some too with Pfizer). Big companies realize Accurins so far seem to work well enough that its riskier not to collaborate with Bind than to collaborate. It's also possible that Roche is one of the existing partners that haven't been named before - that is of consequence insofar as it informs how far along in development Roche payloads might be. Looking forward to more tidbits at the JMP conference next week.
Labmonkey--your second scenario turned out to be quite prescient, unfortunately. In another post, responding to another poster, I commented that it's impossible to know at this point the role that the Accurin delivery system played in the less than stellar results regarding Amgen's therapeutic agent's tumor arresting activity. It certainly could be that Amgen's therapeutic fell short, but we won't know until (or if) further details are provided.
Labmonkey--Did you catch Bind's presentation today at JMP Securities Health Conf.? I think it was similar to the last one Minick presented at another (recent) investor conference. But it was impressive. I think he's a very good CEO, not remotely flashy, but very smart and savvy, and he seems like very fine fellow. Slide 7 contains several charts of early results of the Accurin kinase inhibitor that is under development with an unnamed partner. If this is the clinical work being done with Amgen it leaves no doubt there will be an extremely beneficial option taken up by Amgen in its collaboration with Bind. It was also very interesting to hear Minick's brief comments on the implications for Bind in the recently signed collaboration with Roche. Bind has really impressed me so far and its future seems incredibly bright.
Agreed. Nothing very exciting in this presentation, but as you say the entire Bind operation seems very polished - science and business. Except for the missing y-axis label in the blood glucose figure on slide 7!
My takeaways: the Roche deal is geared towards designing new types of Accurins for non-oncology applications, particularly exploring different targeting ligands (as opposed to PSMA-targeted anticancer agents), and does seem to be in very early stages with financial terms yet to be finalized. Nevertheless, good positioning for the long term as Bind envisions being a leader in nanomedicine.
I am very interested in seeing the KRAS-mutant NSCLC Bind-014 results, but those will only come out Q3 2015 assuming they get it started Q3 2014.
Slight negative for me (but only due to my impatience) was the wishy-washy answer to whether Bind-014 will make good money in prostate cancer. Perhaps that particular application will end up being a proof of concept. Time will tell. I also didn't quite catch which program he says at 17:55 is the most advanced - is it AZ?
Thank you for your seemingly knowledgeable insight. It all helps with the decision to hang on to BIND for the long haul. This is about one the only stocks I'm aware of that I can buy and look back on in a few years and see giant returns. Their science seems quite sound.
Long haul (5-10 years), yes I think this will see very good returns, but I'm no prophet. Personally I am hoping for ~$50+ PPS by 2016, and then see what the pipeline looks like. Even so, I don't really have a great sense of how well the first phase 2 studies in the coming months will fare, so I might need to reconsider. Even good science doesn't work 100% of the time and there will be hiccups. I hope the hiccups don't come at this earliest point since that will be very bad for investor sentiment since people might take it as invalidation of the platform in general, whereas the reason for failure will likely be very specific for that particular tumor type. Seems only a matter of time until some combination of surface marker/payload/disease will pay off handsomely. All IMHO and good luck to you.