Hey Hans, welcome & thanks for subscribing. Overall we thought the results were incrementally good but not a meaningful upgrade to SOC nor our overall optimism to PI3K as a class. Frankly we were impressed by results but also put off by safety, and the burden has been shifted to the next trial that can demonstrate ORR and PFS statistically and show how tolerable it is (Q4). We think post-event many didn't know how to interpret the results and could be blindly following wall street PTs -- after all, analysts have ulterior reasons for PTs. Don’t know if you saw but also some retail bulls are driven by rumors of a buyout/asset deal as some guy leaked the readout results on Stocktwits weeks before 7/27, so we are likely in for daytrader-dominated activity this month until that passes.
So what did you think of the July 27th results?
Hey Hans, welcome & thanks for subscribing. Overall we thought the results were incrementally good but not a meaningful upgrade to SOC nor our overall optimism to PI3K as a class. Frankly we were impressed by results but also put off by safety, and the burden has been shifted to the next trial that can demonstrate ORR and PFS statistically and show how tolerable it is (Q4). We think post-event many didn't know how to interpret the results and could be blindly following wall street PTs -- after all, analysts have ulterior reasons for PTs. Don’t know if you saw but also some retail bulls are driven by rumors of a buyout/asset deal as some guy leaked the readout results on Stocktwits weeks before 7/27, so we are likely in for daytrader-dominated activity this month until that passes.
Thanks, that's helpful. PA definitely telegraphed major uncertainty in what results meant.