For all those who think the results are disappointing (Wall St Journal, others, etc) they really don't understand medicine. There was no 40% consensus. Consensus is for earnings estimates, not clinical trials. Comparing a phase II and phase III trial is very difficult to do. The numbers in phase II are always substantially less than phase III. Plus most phase II trials do not show comparable efficacy when larger phase III trials are done. These results are very good, especially in a disease whose front line drugs are far more toxic (methotrexate and Embrel).