Can't wrapped my head around that one. It says they live longer without disease progression and the stock plummets???? What are they hoping for??? Isn't this good news???
Basically the same results with placebo and ICT-107. "OS subgroups numerically favor ICT-107 over placebo, although none has reached statistical significance." IMUC can try to make that sound like good news, but it is what it is. Sorry dude.
New investing world; here is an example: Bought ATRS before FDA approval. FDA APPROVES, followed by stock plummeting in price (after transient uptick). Investors get in before any announcement and out immediately after good news. IMUC basically delivers good news (as you and I agree), followed by stock plummeting. Same scenario as ATRS. Investors buy, stock goes up in anticipation, then investors sell on good news. If this sounds bizarre and nonsensical, I agree. Thus my opening statement, "New investing world."
This is a real shame. I have no position here. I sold 2 months ago after discussing this approach with a leading researcher here in my city. This is not a lost cause, it is more of another small step toward a broader solution. My thoughts are with the people who are struggling to survive this cancer...well all cancers. For any of the people on this site bashing and making fun of the situation, you should be ashamed of yourselves.
Look at the company slides that describe the phase 1 ICT-107 results. They put historic control at 18.8 months for OS median, and the phase 1 results at 38.4 median. Now that is a 20 month difference which was the expectation that the company sold. Now, to see a 2 month OS advantage, the market is severely disappointed to see only 10% of what they expected to see, and not stat sig to boot. Geez, I'm surprised it didn't go sub-1.
That being said the news was still very positive. Just the simple fact that there was "no disease progression!!!" I understand the expectation was higher, but not to the point that it kills the stock. Logically that doesn't flow.