Hi my name is Mike and I'm an idiot!
"This was surprising and unexpected," said Exelixis CEO Michael Morrissey, referring to the FDA's decision, on a conference call
Oh completely unexpected after I old the FDA they must appove pain as a primary endpoint becasue I know everything; I know cause I heard me say that!
"Based on advice from leading investigators and regulatory consultants, we believe it is in the best interests of both patients and Exelixis to initiate the trial as soon as possible," said Exelixis in a statement.
This is Mike and I only followed the advice of experts! ....ah well me, again! Luckily I told myself I was the expert and I told the consultants that they should remember that I'm the expert or we will cut them out!
See I told you I was right, again, as usual
I am Mike Morrissey and I deserve to be called Hubris Maximus
ALL BOW TO ME, SUPREME RULER, REPEAT AFTER ME!!!!
we know that the folks at EXEL are capable of spelling IND, but do they know how to spell NDA. Given the impatience they have exerted in the past with rash decisions about pipeline and collaboration questions - quick money and exit as some of the management have done over the past years..... one has to wonder.
yes the data can be compelling, but for PAIN???? I think they have cashed in their chips with the market and it will not respond until firm revenues start rolling in. $50-100 MM market for a small company like exel may given them a needed boost and we can shut up the shorts.
How about when the company was $12...and rumours were flying about a buyout? You can take either side on that argument, but the facts are they have a very active compound with a very unique profile that could be worth billions. There is nothing sure in life, but the data is piling up regardless of the lack of an SPA. I'd place my wager on a partner sooner rather than later. The streets response to the SPA news was an oppty for every short fund out there to pile on a small biotech. Had absolutely nothing to do with any data regarding the efficacy of Cabo.
the rumors of MMM's ability to extract money from a potential partner are waaaay overblown,. Look at the history of this company. They have entertained almost all of the major players in teh field at one time or another. Why no purchase when the stock was in the low $2 range, why wait....???