Congrats all, and I actually slept in this morning and just read the release. I wish more information was provided about how well it did so we would see a bigger pop but what this does for me is it takes away a large amount of the risk that was associated with the stock. Now I won't worry as much about having so many eggs in the Curis basket. GLTA and hopefully we get some further clarity on the test results at AACR but as someone else pointed out, it will probably be at ASCO. Since they plan on filing in at least one location, the results were what we expected and we will be getting at least one milestone payment this year and possibly 2.
Points to consider..... 1. Roche needs all the pipeline they can get. Last year this time I wrote hundreds of prescriptions for Roche's drug Tamiflu. This year, barely a dozen. You can listen to Roche's recent presentation. Some of their blockbuster drugs sales have fallen off. If you had a company with the pipeline Curis has and their lead drug had great results, why tout it and drive up the cost of acquiring the company? 2. Blackrock and First Eagle own a ton of Curis stock. If memory serves me correctly, the two combined own 30 million shares (17 + 13mil). Does anyone really think they are in it to make only 20% on their money. It is unlikely they will sell at $3.60/share. 3. Where are the shorts going to get their shares to cover? 4. I believe CUDC-101 has more value than GDC-0449 and it is wholely owned by Curis!
A little insight on "how good" the unannounced results need to be from this study for FDA approval, per RBC:
>>"We believe a response rate above 30% with a 6-month duration would likely be acceptable to FDA. Response rates in the 40-55% range are likely within current expectations, and anything above 55% would be a surprise upside. Durations greater than previously seen (8.8 months) would also be considered upside," said RBC's Kantor<<