I just went through a nightmare on another stock that reported excellent phase II trial results on a new drug in primary liver cancer, but the stock sold off 40% on the news becuase the street thought the numbers didn't look good. The street was expecting a miracle cure for liver cancer and 80% response rate. They got 40% repsonse, which was excellent, but since it didn't measure up to the naive expectations of the retail trader, they sold.
The numbers in Vertex's phase II results here might be impressive to doctors in the know, but the absolute response rate percentages are small. There is some danger than the street might sell on this.
Do either of you have any knowledge about IMGN? I came across a story the other day that looks incredibly promising, but then I look at the stock, and see it trading at $2 3/4. I want to buy some, but am wondering why I am the only "smart" person who came across this news. Is there something about this stock that I don't know? Thanks in advance for any help you can give me. JM
The news was released during trading today, leading to a modest gain. Apparently, the news was initially treated neither very favorably or unfavorably. From the press release, it seems to me VRTX is taking a carefully considered approach to the clinical development of Incel, using data from several different cancers and chemotherapeutics to plan the phase III course with the best likelihood of success. Although the data are not of the overwhelmingly positive kind that would make the NY Times front page, it is gratifying to see preliminary evidence for efficacy of Incel against both prostate and ovarian cancers.