My immediate thought is that the GILD news combined with the overall aversion to risk and the selloff of momentum stocks will lead to avid selling of PCYC tomorrow. On the other hand, AH response to the news in both GILD and PCYC stock has been relatively muted. We shall see.
I think that knowledgable investors recognize that this is a stock you have to own. If retail shorts come in on the GILD news , I will bet against them. The results of the idealisib (sp?) trial notwithstanding (I own GILD, too), nothing is as potentially important for CLL patients as ibrutinib. The GILD drug was tested among patients who were refractory to chemo - or perhaps ineligible for chemo - which sounds like late stage treatment to me. The most dramatic results in the ibrutinib trial, if I recall correctly, were among treatment naive older patients. And the average age of CLL patients at onset is pretty high. I think ibrutinib wil become a maintenance drug for cases previously classified as "smoldering myeloma" whixh went untreated.