33.1% PASI 75 missed badly vs 40% cons (41% Ph 2) & Citi & others hoping for 50%.
I'm a bigtime CELG bull but no the results were not that positive imo. they dropped 8% from Ph 2 results & Citi was expecting Enbrel like scores near 50%. Now PASI 75 is only a regulatory hurdle and the safety in this oral drug is amazing. Will still be approved and billions down the road - but we are gonna get hit as CELG ran $6.62 from Monday's close as AAD expectations got frothy.
A week from now won't matter but CELG gonna get a bit pummeled Monday imho. Luckily pummeled from $105.62 and not $98 at least. I expect a dip under $100 if the market takes its normal Monday dumping.
First of all 33 percent is still significant. An 8 percent difference is not a big deal especially since the last study had less participants.The recent run isn't just because of Apremilast. Any pull backs in the stock will be bought anyway.