Might have some upside for EXEL. RET-driven NSCLC, head and neck tumors, and MTC are all in the competitive space. Personally, I think ARIA is a steal in the $5's...and I don't expect Iclusig's near-term toxicity issues to overwhelm it's clinical benefit.
I hope you're right. I bought 7,000 shares at $5.41 today. My oncologist friend was pounding the table this morning at breakfast over what he considered to be an overreaction. He believes the drug will be used despite the obvious issues because they don't have anything better to use. It made sense to me. As always...he bought options...I plod along with the stock.
"I bought 7,000 shares at $5.41 today."
I'd have to call that a leap of faith beyond my capacity.
I picked up a couple hundred shares at $5.05 the day it crashed.
I figured to scale in as a bottom become clear, but wanted in nonetheless...
Accumulating EXEL, HALO, SNTA, INO, IDRA, THLD, DVAX, ARRY...
"...and I don't expect Iclusig's near-term toxicity issues to overwhelm it's clinical benefit. "
They suspended clinical trial enrolment but didn't touch current use of the drug in its approved space for CML. Ponatinib is effective against genetic variations of the disease that are otherwise untreatable by alternative drugs. No doubt, Iclusig is very toxic and may not be appropriate in settings in which there are alternatives less toxic, but it still has value and ARIA will likely pursue lower dosing and see if they can salvage the program in the supplemental indications they were trying to exploit. The sell off was very steep, but once the market gets the notion that a drug has safety issues it is very unforgiving and slow to regain confidence in a drug with regulatory safety issues. EXEL and Cabo might have suffered a similar fate without Matt Smith's low dose study using BSR as a proxy for efficacy.