Genzyme/Sanofi has over a $100 mil and priceless contributions to nurturing OSIR to the finish line with Prochymal for whatever....
And they are not going away until they get their fair share or get repaid....period.
So all the shortsighted perspectives here that do not account for the values earned or paid for by gens/sny are unrealistic. If any thinks OSIR holds all the cards...they are quite wrong.
It is a real shareholder 'kick in the gut" that all of Prochymal development has literally been put on hold. Somewhere along the line, this time delay equates into real money. Time for OSIR to get off their rear end.
Prochymal failed in type I diabetes because the primary endpoint was reduction in C-reactive protein, a marker for inflammation. After this failure I looked into inflammation and type I diabetes and I thought the correlation was speculative at best. Still, that was how the trial was run and Prochymal failed. OSIR had been toting the anti-inflammation properties of Prochymal so this was a major set back. Primary of care for Crohn's disease nowadays are biologics like Remicade and Humira, which are anti-inflammatory. So one might conclude that Prochymal would fail in inflammatory related diseases. However, stem cells may have an unique mechanism of action that is not inflammatory in nature. The efficacy in GVHD can not be ignored. Even if you look at the trial data and say "well Prochrymal didn't meet all it's primary endpoints in GVHD", it met two of the three and was as good as standard of care in the third. C-reactive protein is not a primary endpoint in the Crohn's trial and certainly not in AMI.
Exactly, Sanofi carelessly put Prochymal on discontinue, but Osir took cheap shot after. Neither side will benefit from it, why not sit down, talk that out quickly. "The best way to destroy an enemy is to make him a friend"
Carelessly?? Sanofi made the public statement without alerting OSIRIS beforehand, without speaking about concerns it may have had. Clearly they washed their hands of it, no? The word discontinued wasn't a typo was it? ;) I dunno what I would do in this situation but a large part of me would not want to work with a partner like that. just imo
I don't know the management team personally but based on what those here who have met and spoke with them say, it seems we can trust they are doing everything they need to in order to protect the future of this company. I guess, we just need to be patient right? It can't go on forever. At some point the Court battles will need to end.
Actually if a compatible agreementis not reached....the court battles will begin...and ugly turns uglier.
Not to diminish an opinion of management but....data and events should be used to contruct an awareness.
It's hampered OSIR from going to $20- $30 with the AMI results on hold. Maybe even some GvHD applications and approvals too.
Possible to recapture...but nevertheless it is what it is....not good.