This is absolutely great news and serious validation of PCYC's BTK program.
Not that those 'in the know' really had any second thoughts. Celgene is seriously worried that PCYC and J&J are going to eat revlimid's lunch. And for good reason, the data show PCYC's BTK inhibitor is much more active with fewer side effects, broader spectrum of activity, and able to be combined with a number of other cancer drugs with impunity. And watch out for the activity in multiple myeloma, in addition to all of the other histologies such as CLL, mantle, follicular,etc., let alone autoimmune applications. The only problem for Celgene is that Avila's drug is not as active and its probably at least 3 years behind the J&J and PCYC's team. Just remember the market cap of Celgene- that's $32 billion, converted to PCYC shares outstanding = roughly $400/share. This drug class is so much better than thalidomide and derivatives like revlimid its going to blow this number away. And PCYC's is far in the lead. Double up on days like this.
Let me just add Duggan is holding all Aces in his hand IMO .United States Patent & Trademark Office (USPTO, www.uspto.gov) of a patent entitled "Inhibitors of Bruton's Tyrosine Kinase" and specifically claiming "an inhibited tyrosine kinase comprising an irreversible BTK inhibitor having a covalent bond to a cysteine residue of a Bruton's tyrosine kinase (BTK)". This U.S. patent 8,088,781 is set to issue on January 3, 2012.
"We are very pleased to announce to our stakeholders that the USPTO has granted us this patent, which further strengthens our BTK intellectual property portfolio and confirms Pharmacyclics as being the first in the BTK irreversible inhibitor space," said Bob Duggan, Chairman and CEO of Pharmacyclics. "I consider it an honor and recognition of the knowledge, skill, and innovation of the Pharmacyclics employees and other individuals who were involved in the creation of this intellectual property."