Wall Street doesn't like the word "unprecedented"...
Despite great news coverage this week from the likes of Medscapedotcom, News-Medicaldotnet, MedicalXpressdotcom...and lots of lively patient blogging from HealingWelldotcom - all reporting the JCO Cabo low-dose trial results published last month...
EXEL shares still took a heavy-handed downward turn over the past few days.
I sure wish Dr Dave Smith would stop using that darn word "unprecedented".
The market doesn't respond favorably to the unprecedented use of the word "unprecedented"...
Next time, Dr Dave, say something the Wall St Goomers can understand...like...
"Gee whiz, fellers...Quick! Come look! I ain't never seen nothing like this before!"
There's also this quote from the medscape article:
"Cabozantinib should not be used for CRPC outside of clinical trials at this point, but the data should prompt referrals for clinical trials such as the phase 3 trials referred to in the paper, as well as institutional trials listed on ClinicalTrial.gov."
David C. Smith needs to cover his #$%$ for potential liability if his statements get misconstrued as off-label usage endorsement, this doesn't mean that doctors won't use Cabo off-label though.
True. However, with the "unprecidented" response it is almost a moot point. ...Almost. Although, the clinical trials will reach capacity quickly, the results will be immediate, the news from all the various clinical trials will travel fast, off-label use will accelerate even quicker.
"David C. Smith needs to cover his #$%$ for potential liability if his statements get misconstrued as off-label usage endorsement, this doesn't mean that doctors won't use Cabo off-label though."
No he doesn't have to cover his six, he is a prinicipal investigator reporting on his results. Crap, half the clinics do not even offer Provenge and a third haven't even incorporated Abiraterone a full year after approval. Anticipating widespread off label use is just setting up for another disappointing outcome.
"A new study is reporting "unprecedented" results in the treatment of castration-resistant prostate cancer (CRPC) with the new drug cabozantinib ( Cometriq, Exelixis).
Results were published online November 19 in the Journal of Clinical Oncology.
Cabozantinib is an oral inhibitor of multiple receptor tyrosine kinases, including RET, MET, and vascular endothelial growth factor 2 (VEGFR2). It was recently approved by the US Food and Drug Administration for the treatment of medullary thyroid cancer.
Cabozantinib demonstrated "dramatic and rapid effects" on bone scan lesions in a high proportion of patients, the study authors report. These effects are "echoed in other measures of antitumor effect," they add.
Of the patients randomized to cabozantinib, 72% experienced regression in soft tissue lesions, and 68% of evaluable patients showed improvement on bone scan. In addition, there was complete resolution in 12%.
However, lead author David C. Smith, MD, professor of internal medicine and urology at the University of Michigan Medical School in Ann Arbor, said the study should not change clinical practice at this time. "Cabozantinib should not be used for CRPC outside of clinical trials at this point, but the data should prompt referrals for clinical trials such as the phase 3 trials referred to in the paper, as well as institutional trials listed on ClinicalTrial.gov," he said.
"Dosing is still being assessed and the side-effect profile requires that patients be closely monitored to limit major toxicities," Dr. Smith told Medscape Medical News. "I would not recommend off-label use AT THIS TIME (my emphasis)."
Thanks for the positive reinforcement, urabt2.
If Ernie's intuitive assertion wrt DTC compendia listing is correct ( I absolutely believe it is...) the shorts have but numbered days to exercise control of EXEL. The more they play, the more I buy. The lower they drive the valuation, the greater the chance of an interventional buy-out. In the midst of a diminished share price, the clinical data just gets better and better...which means that a buy-out valuation has nowhere to go but upward. The clinical positivity is outstanding.
Cometriq is soon to develop a profound rate of clinical adoption that will rival that of Gleevec, and - as shareholders - we have some off-the-radar NCCN dates of colossal stock valuation importance to recognize. I am still in research to deliver full-length on this topic, and will return to it when my findings are mature enough to share w/ all. The holiday season is simply not the best-of-times for information gathering.
Cash post-approval bonuses have just today been announced at Exelixis.
The shareholder bonus party begins in 2013.
Have a good holiday.