Pull the trigger at some point when they are sure the heart drug is good enough to get FDA approval. Remember, Amgen paid 10 billion for ONYX whose products were for a much smaller number of patients.
Wait until the kidney drug gets approved. One of these days the shorts will figure out that the stock is headed up not down. Maybe a buyout from Roche will do the trick.
Back in 2008 BMY and EXEL signed a partnership for several EXEL drugs that included XL184 which is now known as Cabzantinib. In May 2010 during one of it's cost cutting moves, BMY gave XL184 back to EXEL. In Nov. 2010 EXEL and BMY researchers reported good data for XL184 at a big cancer meeting in Europe. On July 13, 2015 it was announced that NCI is starting a big new trial in GU and kidney cancer using a combination of Cabo and Opdivo. Opdivo is BMY's immunotherapy drug that is doing very well. The BMY- EXEL connection is alive and well.
It's not the quality of the product. The first partner for Relistor was Lederle. Then Lederle was bought by Pfizer and Rlistor was given back to PGNX. After a couple of years a new partner was found (Salix). Everything seemed to be going well until Salix self destructed with the inventory disaster. So then Valeant, the bad boy of the pharmaceutical industry, gets Relistor. I would not want VRX to buy up PGNX.
The company is now getting ready to have real products for sale so what happens ? The stock drops. Biotech stock action is a bit crazy.
Here is another thing to ask about at the press conf. At the Nov. 5 CC, Dr. Goldenberg mentioned a patient whose brain metastases disappeared after treatment with 132. If 132 can actually pass through the blood brain barrier this is a big development. Ask if there is there some way to test for this.
I saw the U. Chicago paper in 2012. The university holds the patent rights on Relistor and PROG has to pay a fee to the university on any sales .Also, the university still has the rights for use as a cancer drug.
Almost all ADC's on the market or in development come with a companion imaging agent. None has been mentioned so far for IMMU 132 or 130. Pretesting with the imaging agent is done to determine if the tumor overexpresses the surface receptor that the antibody targets. Only those patients whose tumor expresses the targeted surface protein are good candidates for the drug. The FDA will probably raise the subject. Most imaging agents are made by binding Tc99 to the antibody ( Trop2, or Ceacam ).