Why would anyone expect after hours to jump? This is just the approval letter which doesnt have anything to do with whether RGEN and BMY are negotiating a deal behind the scenes.
The drug is not being sold- YET! I wouldnt expect RGEN to be ready with a pr way after hours on the nite just before Christmas eve even if they had a definitive agrrement, OR NOT at this point. Who the heck would even see it. Apparently even the great BMY only traded 10k shares which is a joke in itself, but reflective of the tiny liquidity going into the holiday.
IF BMY and RGEN are not able to negotiate a contract than i would definately expect to hear something from RGEN anyway as to their plans for action vs BMY.
Why anyone would be bashing RGEN and praising that idiot Tylinsky is beyond me.
What would have been a real shocker and an absolute pisser is if we had seen CTLA4-ig been shot down for RA-THEN all bets would be off for both companies for this indication.
The nice thing is we will hear the from both companies quite soon as BMY obviously will be trying to get this to market ASAP.
The interesting argument, maybe the attorney's can shed some light... If you were BMY why not agree RGEN's patent covers ORencia, they can than claim a longer patent life for Orencia. Even if they extend the patent one year, the profit made in that year alone could buy RGEN many times over. Seems like there is an argument to take the high road and BMY should embrace RGEN's claim.
Of course we do not know what is really happening behind the scenes. RGEN and BMY have been very mum on the issue all year. It is not surprising at all the RGEN has not issued a press release. In fact I would argue if RGEN keeps quiet it means they don't want to rock the negotiations with BMY. If they cry foul on tuesday it probably means BMY is not talking to them or taking the stance that RGEN's patent is not valid. SO all longs should HOPE RGEN says zippo on Tuesday. IMO
Finally, if anyone thought RGEN was going to trade up on the ORencia approvable letter they are mistaken. Most analysts felt Orencia approval was very likely, I doubt you see BMY sustain 10% gain on Tuesday.
I have to say i agree with that line of thinking nearly 100%. I was hoping someone who was unemotional about this could help me out...there seem to be a lot of kooks that like to blast off here-like that idiotcddog who still cant come to grips with his own ill-informed musings.