Heard from 2 different sources that CLDX tried for late-breaking abstract, but the Program Committee was inflexible and would not make exception to policy of PIII's only. So I take back my "belle of the party" post and actually give credit to CLDX for being aggressive and trying to arrange the best opportunity for the presentation of 011 results.
Plan B of having a webcast featuring the lead investigator for the PIIb may provide a better forum to discuss 011 results and implications, than being sandwiched between a dozen other PII presentations in the Breast cancer session as per standard ASCO assignment. Like I said the other day, this is going to be interesting...
it seems that the error may have been that CLDX believed they could submit a phase 2 as late breaking when only phase 3 trials qualify as such... as I posted a few minutes earlier (new topic):
The ASCO Late-Breaking Abstracts Policy allows for the submission of Late-Breaking Abstracts only for randomized phase III trials for which no preliminary data are available at the time of the abstract submission deadline (February 1, 2012), but for which a preplanned analysis of the primary endpoint is scheduled after that date but before April 2, 2012 (deadline for the final, updated Late-Breaking Abstract). During abstract submission, you will be required to provide the date of planned analysis. The policy is not a mechanism to allow for updated data to be submitted later when preliminary data are available by the abstract submission deadline.
and here is the detail "how to submit" (pretty clear, I'm afraid)
"Heard from 2 different sources that CLDX tried for late-breaking abstract, but the Program Committee was inflexible and would not make exception to policy of PIII's only.."- long_
That backs my speculation yesterday that the error was checking the box for "Late-breaking" and, more importantly, was deliberate.
So, you give CLDX credit for being aggresive, but, if true, how do you feel about them ignoring the clearly-stated policy and then lying about it in the press release: "the incorrect submission category was inadvertently selected"?
I suppose both your sourcesand the press release could still be correct if Vahdat/CLDX did indeed inadvertantly click the box and then realized the only way to get into the meeting was to pursue the "late-breaking" track. CLDX looks more desperate than aggresive in that case, however.
Long, that's a positive way to look at it however, this so called clerical error is in-excusable. I realize that it does not take away from the results but let's not forget why we're here. This error stopped a momentum and reversed it. Now let's hope it reverses again. May 23 is around the corner.
Thanks for all the due dilligence, this is very positive news. This says that the data must be very strong if the company was even considering trying to do this.
I give koodos to mgmt for being aggressive as well.
They must be very confident that they have something with this data to make a play like that.
I appreciate your discovery.
Seems like an emerging consensus is that a go it alone release is better than getting lost in the crowd at asco.
I agree, and this should be followed for all results from here forward.
I actually like plan B. It has thrown the investment community into somewhat of a panic mode.
LOL....didn't we already know late breakers were reserved for PIII trials?
No surprises here. What is happening is exactly what should be happening with -011.
When the company unloads positive data on the 23rd followed by -110 poster at ASCO, I believe we will go to higher highs. Higher lows is a given here if the news is positive.
Lots of nervous anticipation and the 23rd will be here before we know it. We have 14 trading days until May 23rd. The stock price will most likely be wildly fun to watch.
Appreciate your post long vrts!
Keep them coming!