any updates from brokerage houses? I'm particularly interested in Needham & Co as their last report sounded positive. I'm surprised that Arqule announced a public offering at this time, and that the Colorectal Cancer presentation only had data on 9 patients. Agree?
The Phase I results reference only 9 CRC patients largely due to the fact that there were multiple solid tumor indications included in they study. So they were (are) looking at how the compound performs with different solid tumors and dosage levels. Thats my take. Obviously, based on preclinical data and the Phase I study results, they initated (with their Japanese partner) a Phase II trial some time ago. So they already had a pretty good handle on the efficacy and safety profile for the colorectal cancer indication.
No one really can predict short term movemements in stock prices, but the price might kiss the offering price (or retrace below it) before gaining strength as we move toward ASCO in June.