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.
Some OPEC members are in a lot worse shape then the US oil and gas producers.
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.
I have worked in biotech (now retired) and I think that 1456 has the potential to be a blockbuster. However, nothing is sure.
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.
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.
Every molecule in an ADC requires a humanized antibody. These are difficult and expensive to make. The ECYT products use folic acid ( vitamin B9), a commercially available molecule that can be bought by the pound for a reasonable price. The sleeper improvement in going from 145 to 1456 is changing the linker to be more water soluble so the drug is eliminated by the kidneys not the liver. This is a good stock for people who like to gamble.
I think it's something like $33 or 18 billion. Big oil which is still making a profit would find that buying this company would save them billons in US taxes. Maybe the CVX rumor is actually true.
I believe that OPEC only has twelve members. It only takes a majority ( 7 )to call a meeting. There should be enough votes to do it. Sticking to new quotas is a more difficult matter.