GSK study did not meet one of its key endpoints, and while they will press forward, the likelihood of FDA approval has now diminished.
ONCS rallied double digits in response, as ONCS continues to trend higher, making the competitive landscape for ONCS more favorable. Now, there are three serious melanoma contenders: ONCS, NLNK, and AMGN.
Thus, ONCS also becomes a more attractive acquisition target following its data in the next few months. This is a company that could be transformed if interim data repeats itself, going from $30m to $300m in a matter of weeks. The outlook for ONCS becomes more favorable by the day