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Options Tax Question/advice:
I am coming up on 1 year for SRPT (call) options I bought strikes of 30 and 35. I am trying to figure out the best strategy to take (for tax purposes). Assuming I want to hold the equivalent shares for some time longer. What are the advantages/disadvantages of exercising and holding vs. selling the options and buying stock?
I am not clear on if I exercise the options if am taxed at the strike price would it be less the price I paid for the options? If so (assuming no premium/discount to share price) wouldn't it be better to sell the options and only pay taxes on the gain in options premium and buy the stock and have a higher cost basis?
Appreciate any clearity anyone can give. Thanks!
NKTR:
For what its worth if one believes in actions speak louder than words one of the two planned early (mid '18) Phase 3 initiations is RCC the other being Melanoma.
Oncology is certainly an area I don't know well. In my NKTR-214 position, I've thought Melanoma and Sarcoma where two of the indications I felt had a higher chance of success. I am sure Howard Robin highlighted what was better data to share and there are/will be some indications where 214 doesn't do as well. Maybe the stock will have some disappointment when that happens? On the plus side though Nektar may soon have some other molecules that could generate some additional buzz which may give the illusion (false or real?) of them being more than a one-trick pony.
NKTR:
Not sure if looking at something different but I see 14 as 1L and 8 (7 evaluable at SITC) as 2L (where the response is much worse 1/7 @ SITC).
I haven't heard the company specifically say but with the way some have gone from SD to a response may be possible for some that do not get SD (and go off therapy) might in time have had a response if treated longer (or treated at a higher dose).
NKTR:
Here are the slides if anyone wants to see individual historical data
11/17 SITC (Slide 19 main summary slide):
http://www.nektar.com/application/files/8115/1042/7902/SITC2017_-Oral_Session_207_-_PIVOT-02_-_Adi_Diab-preso.pdf
JPM 1/18 (Slide 15 RCC)
http://www.nektar.com/application/files/2715/1671/8899/NKTR-JPMorgan_2018.pdf
RCC: 71% (14) = 10/14
PD-L1 Negative 60% (20) = 12/20 (at SITC I count 18 from slide 9. though 2 were unavialable then)
NKTR:
From the SITC presentation, there were 14 enrolled but only 13 were evaluable so the 1 probably just didn't have a scan yet. So I take it the response is 10/14
Here is the transcript if want to see exactly what was said.
https://seekingalpha.com/article/4152660-nektar-therapeutics-nktr-ceo-howard-robin-q4-2017-results-earnings-call-transcript?part=single
PFE M&A I/O
Interesting they mention the NKTR deal as part of the reason Pfizer may be more interested. Not being a BMY shareholder I'd like them to stay independent at least a while longer. One never knows how an acquirer will treat the assets (partnerships in particular) and I'm quite happy with the pace at which BMY is moving. As an aside (and to bladerunner1717 next post) BMY has 2 big deals with CTMX. If the technology pans out (less off-target effect) it would be something to see them combine the CTLA-4, either there PD-L1 or PD-1 (neither of which are partnered with BMY) and NKTR-214.
MDXG:
A little boring to watch but normally I'd write him off as a short building his case but given the company antics, I tend to believe there likely is a decent amount of truth in his complaints.
https://www.pscp.tv/w/1MnGneANrREKO
I think its the same person who was on Adam's periscope of the JP Morgan Breakout session which WAS more entertaining to watch
https://www.pscp.tv/w/1jMJgdpabaMxL?q=adam+feuerstein
QUIZ Answer
@jq1234t got the correct answer UTHR
They have generic risks to their PAH products. I thought they would have been impacted more by Flolan generics (years ago) given at least one had some improved profile. They also have run into delays with their implantable pump (they were working on this implying it was close while I was a shareholder several years ago).
Here is the EP Vantage story JQ linked
http://www.evaluategroup.com/Universal/View.aspx?type=Story&id=767394&isEPVantage=yes
OMER:
I didn't find a new report just the one from the 14th. Am I missing another one somewhere?
I still have interest in OMER the criticisms I have of the company are:
1) How they respond to this and the "Art Doyle" report a while back make them look bad.
2) They do raise the issue of management (lack of) transparency and creditability though this was kinda known already.
3) The C5 space is seemingly more crowded.
Quiz (low to medium difficulty):
Can you name this Biotech company (numbers rounded to prevent from being too easy):
1-EV ~4B
2-'17 Revenue ~1.75B, Past three years about ~10 annual growth
3-'17 NI ~625M (x 1 time charge) (similar/better prior 2 years)
Webcast Calendar
[Please see updating procedure at
the end of this post. All times are
U.S. ET unless indicated otherwise.]
NOTE: ANYONE MAY UPDATE THIS FILE
FOR EVENTS/LINKS ALSO SEE:
https://www.troutcapital.com/conference-events/calendar
Edits: Removed obsolete entries, Updated March events, Added April Events. I also added a link to troutcapital which now has links to events (they also have medical meetings).
BIO Biotechnology CEO & Investor Conference
2/12-13
https://www.bio.org/events/bio-ceo-investor-conference/company-presentations
Leerink Partners Global Healthcare Conference
2/14-15
http://wsw.com/webcast/leerink30/
RBC Capital Markets Healthcare Conference
2/21-22
BTIG Medical Technology, Life Sciences & Diagnostics Conference
2/26-3/1
Morgan Stanley European MedTech & Services Conference
2/26-27
Raymond James Institutional Investors Conference
3/4-7
http://wsw.com/webcast/rj108/???? ????=stock symbol
Canaccord Genuity Musculoskeletal Conference
3/6
Credit Suisse Global Healthcare Conference
3/6-7
IPH.PA R&D Day
March 8th, 2018
http://www.innate-pharma.com/en/news-events/events/rd-day-2018
Roth Annual Growth Stock Conference
3/11-14
http://wsw.com/webcast/roth32/
Cowen & Co. Annual Health Care Conference
3/12-14
http://wsw.com/webcast/cowen46/
Barclays Capital Global Healthcare Conference
3/13-15
https://cc.talkpoint.com/barc002/031318a_as/
Oppenheimer's 28th Annual Healthcare Conference
3/20–21
https://www.opco.com/conferences/nyhealthcare18/index.aspx
Cowen 17th Annual Life Sciences Winter Meeting in Colorado
3/20-23
BioCentury Future Leaders in the Biotech Industry Conference
3/23
Needham Healthcare Conference
3/27-28
http://wsw.com/webcast/needham86/
H.C. Wainwright Global Life Sciences Conference
4/8–10
ARM Annual Cell & Gene Investor Day
4/17
http://arminvestorday.com/
BioTrinity Conference
4/23-25
https://www.biotrinity.com/
Deutsche Bank Healthcare Conference
5/8-9
Bank of America Merrill Lynch Healthcare Conference
5/15-17
Citi Swiss Healthcare Day 2018
5/17
UBS Global Life Science Conference
5/21-23
--
Procedure for Updating Calendar
When adding or modifying entries, please follow these steps:
1. Copy the complete text from the old calendar.
2. Make your additions or modifications, inserting new items in alphabetical or chronological order as the case may be.
3. Near the top of the message, give a very brief description of your changes (e.g. “Edits: Added JPMorgan conference”).
4. Post the updated calendar in a new message as a reply to the message with the old calendar.
FOLD (dilution):
I posted this on twitter
https://twitter.com/MauriceOnTW/status/964530302172516353
Fun fact $FOLD issued ~22M shares w latest offering (~190M total outstanding). IPO'd 5M shares in '07 for ~22M TOTAL outstanding shares. Price @ IPO ~$15 (330M mc) price today ~$15 ($2.9B mc) dilution is a killer!
https://www.sec.gov/Archives/edgar/data/1178879/000095012307007903/y32191a3sv1za.htm
Put another way had $FOLD managed to not dilute at all (granted hard for a bio) the stock would be ~132!
NKTR-214 combinations
NKTR / BMY
The milestones are mostly regulatory, not commercial. IMO Any potential capital gains from the stock ownership is likely not a significant consideration for BMY and its small enough to not impact NKTR control (they had close to 160M shares outstanding before the deal).
People need to keep in mind that Nektar has control of 214 BMY really only got a minority share. If PD-1/PD-L1 companies start competing on price NKTR-214 has a significant lead on any potential IL-2 targetted agents (if they even prove to be competitive) and can set the price accordingly.
To me from NKTR's standpoint its a bad deal for them if you believe 214 is 1 hit wonder for them and competition will come soon.... If you think its a mega-blockbuster with no near-term competition OR think they'll produce other IO assets then it gives them time to add some additional value. How much? enough to justify the wait TBD.
I disagree it will still move on the data (up or down) as they own 65% of the revenue. Also they have a very interesting IO pipeline further behind and 262+214 will have data later this year. Look at GLPG when GILD bought their equity stake at a significant premium of 58 Euro (in 2015) the stock is 50% higher than the premium today!
NKTR:
For the record, I think its a good deal for NKTR too. Sure short term traders were expecting a sale and that may be a disappointment. (The stock went up around $4 since I started typing!)
1) They've got 214 funded (~125M per year development) which could've had a significant burn. (32.5% of Opdivo combo, 22% of Opdivo+Yervoy combo)
2) Realistic for them to take 214 by themselves to commercialization would have been a significant undertaken for them alone and probably not done with optimal efficiency.
3) They are well capitalized to develop their IO pipeline now (I'd still expect them to try to sell off 181 perhaps not as much up-front now and more back-ended/label based)!
4) BMY has seen ALL the data which considering the payments pretty much implies the data to date is still continuing to be favorable (if not better).
5) 262+214 will dose the first patient this quarter and have data by year-end. BMY pays 17.5% of that cost (but has no rights to 262).
6) They will add arms to Pivot-02 of Opdivo+Yervoy +214 (Melanoma, NSLC, RCC)
7) Outside of PD-1/PD-L1 NKTR not restricted.
8) PD-1/PD-L1 3 years after closing (or first commercial sale whichever is later) can be combined with other PD-1/PD-L1 if the acquirer has one.
9) Pivot-02 also being expanded for Colorectal and Gastric
8-k: https://www.sec.gov/Archives/edgar/data/906709/000119312518044320/0001193125-18-044320-index.htm
Slides: http://www.nektar.com/application/files/6815/1861/3174/INVESTOR_CALL_FOR_BMS_NEKTAR_COLLABORATION.pdf
Webcast: https://edge.media-server.com/m6/p/td25rezp (Replay wasn't available yet as of this posting)
Nektar Website PR: http://ir.nektar.com/news-releases/news-release-details/bristol-myers-squibb-and-nektar-therapeutics-announce-global
KDMN:
I finally got a chance to hear the call and (more importantly) look at the slides. To the companies credit, they did give more detail than the initial PR.
Slides: http://investors.kadmon.com/~/media/Files/K/Kadmon-IR/kd025-207-data-presentation-2-12-18.pdf
Webcast: https://edge.media-server.com/m6/p/ntwshyjk
KDMN is a company I want to like because of the low valuation and also an ownership interest in a Gene Therapy company and I like the IPF area too... but I keep finding it difficult perhaps it's the questionable management history?
The biggest issue I found (but there were numerous things that bothered me to lesser degrees) was the trial design allowing crossover to KD025 at any time so they actually ended up with 30 treated with KD025 but only 20 of them were evaluable (7 dropped because of AE, 1 not evaluable, 1 misdiagnosed and 1 lost to follow up)! They said they plan a larger (150? placebo-controlled) I wouldn't take my chances given this data.
BIO CEO Select Webcast Links 2/12-13
Bellerophon Therapeutics (NASDAQ:BLPH) https://www.veracast.com/webcasts/bio/ceoinvestor2018/54223144304.cfm
Axsome Therapeutics (NASDAQ:AXSM) https://www.veracast.com/webcasts/bio/ceoinvestor2018/86109188136.cfm
Akebia Therapeutics, Inc. (NASDAQ:AKBA) https://www.veracast.com/webcasts/bio/ceoinvestor2018/96126450158.cfm
Viking Therapeutics, Inc. (NASDAQ:VKTX) https://www.veracast.com/webcasts/bio/ceoinvestor2018/56105261663.cfm
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) https://www.veracast.com/webcasts/bio/ceoinvestor2018/47112187897.cfm?0.658951445702
Aralez Pharmaceuticals (NASDAQ:ARLZ) https://www.veracast.com/webcasts/bio/ceoinvestor2018/54213422934.cfm
Armis Biopharma, Inc. https://www.veracast.com/webcasts/bio/ceoinvestor2018/11130385148.cfm
BioLineRx Ltd. (NASDAQ:BLRX) https://www.veracast.com/webcasts/bio/ceoinvestor2018/16207259055.cfm
Caladrius Biosciences, Inc. (NASDAQ:CLBS) https://www.veracast.com/webcasts/bio/ceoinvestor2018/01124143227.cfm
Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) https://www.veracast.com/webcasts/bio/ceoinvestor2018/97123215271.cfm
Conatus Pharmaceuticals Inc. (NASDAQ GM:CNAT) https://www.veracast.com/webcasts/bio/ceoinvestor2018/14111471205.cfm
Corium International, Inc. (NASDAQ:CORI) https://www.veracast.com/webcasts/bio/ceoinvestor2018/66212165791.cfm
Cue Biopharma (NASDAQ:CUE) https://www.veracast.com/webcasts/bio/ceoinvestor2018/34223232419.cfm
Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) https://www.veracast.com/webcasts/bio/ceoinvestor2018/49112263708.cfm
CytRx Corporation (NASDAQ:CYTR) https://www.veracast.com/webcasts/bio/ceoinvestor2018/12110299856.cfm
Diffusion Pharmaceuticals Inc. (NASDAQ:DFFN) https://www.veracast.com/webcasts/bio/ceoinvestor2018/39228418700.cfm
Editas Medicine, Inc. (NASDAQ:EDIT) https://www.veracast.com/webcasts/bio/ceoinvestor2018/51123157131.cfm
Eleven Biotherapeutics, Inc. (NASDAQ:EBIO) https://www.veracast.com/webcasts/bio/ceoinvestor2018/27205243772.cfm
Exicure Inc. (OTCQB:XCUR) https://www.veracast.com/webcasts/bio/ceoinvestor2018/57224495454.cfm
Fibrocell Science, Inc. (NASDAQ:FCSC) https://www.veracast.com/webcasts/bio/ceoinvestor2018/43223490008.cfm
Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) https://www.veracast.com/webcasts/bio/ceoinvestor2018/24113231918.cfm
Inovio Pharmaceuticals (NASDAQ:INO) https://www.veracast.com/webcasts/bio/ceoinvestor2018/43226202393.cfm
Leap Therapeutics Inc. (NASDAQ:LPTX) https://www.veracast.com/webcasts/bio/ceoinvestor2018/72224277418.cfm
MabVax Therapeutics Holdings, Inc. (NASDAQ:MBVX) https://www.veracast.com/webcasts/bio/ceoinvestor2018/82114229217.cfm
Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) https://www.veracast.com/webcasts/bio/ceoinvestor2018/95115164948.cfm
RXi Pharmaceuticals Corporation (NASDAQ:RXII) https://www.veracast.com/webcasts/bio/ceoinvestor2018/93105444489.cfm
Savara, Inc. (NASDAQ:SVRA) https://www.veracast.com/webcasts/bio/ceoinvestor2018/23129265118.cfm
SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) https://www.veracast.com/webcasts/bio/ceoinvestor2018/07227266307.cfm
Sierra Oncology (NASDAQ:SRRA) https://www.veracast.com/webcasts/bio/ceoinvestor2018/82115265448.cfm
Summit Therapeutics plc (NASDAQ:SMMT) https://www.veracast.com/webcasts/bio/ceoinvestor2018/62130435832.cfm
Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) https://www.veracast.com/webcasts/bio/ceoinvestor2018/46111155544.cfm
Vericel Corporation (NASDAQ:VCEL) https://www.veracast.com/webcasts/bio/ceoinvestor2018/58210583112.cfm
Viking Therapeutics, Inc. (NASDAQ:VKTX) https://www.veracast.com/webcasts/bio/ceoinvestor2018/56105261663.cfm
BMY / NKTR:
I would put it as unlikely (and I am quite long NKTR). First you seem to give endpoints a lot more credibility than me! Sure they get the occasional exclusive (or first publish rights or whatever they do in their industry) but for the most part they are rehashing PR's maybe adding a little color. I've often found things a little sloppy done too. Take for example the wording in the story about a 50/50 partnership. That is quite misleading. They agreed to share costs with each supplying their respective drugs. So I guess you could say its 50/50 but they have NO rights to 214 other than the right of first negotiation (ONLY) and that ends on September 30, 2018. So that date makes it "easier" to make a deal but BMY can't stop one before. I'd imagine at the current valuation anyone seriously interested would want to see more data so I think a deal (if any) would wait till not only PIVOT data but at least some significant PROPEL data. NKTR may also want to see how 262+214 looks. Don't forget they should have some Sarcoma data in the not to distant future too. The company line (Howard Robin) for what its worth is we are going to keep the drug for ourselves.
NKTR:
I don't know the credibility of the story if its just another one of these false rumors or not.
Robins has been known to sell at the peak (assets and companies) and they definitely need cash I believe they have more debt than cash right now. Cash is in the 350M range, a pittance considering market cap and how broadly they want to study 214 this year. I had thought Robin would raise money by now even if he is partnering 181 and hoping to get a larger upfront.
I don't know if your familiar with the TKT situation. The company was NOT for sale when they went shopping their EPO program. CEO was so upset he resigned over it.
NKTR:
The key word is TODAY. I have a good sized position still though I've sold some along the way (but I've also had it for a very long time).
The bull argument would be this could potentially be the central part of (multiple) combination regimens (not just PD-1/PD-L1) so shouldn't it be worth as much.... And there isn't another program like it at this stage of development (some much earlier).
Apparently the story is per bloomberg if anyone has access. Saw more tweets that said exploring options including possible sale.
NKTR:
I saw some tweets that NKTR is seeking a sale (take them for whatever they are worth). Yesterday a big spike too.
Reminds me A LOT of what happened with TKT. They were looking to sell a secondary program, Dynepo (Erythropoietin). Michael Astrue was interested in raising cash and preferred selling all rights for maximum cash... What happened was Shire instead wanted the whole company. I don't think the same will happen with Robin as what transpired with Astrue. He was rather upset (He thought they should wait on a sale with Elaprase data expected shortly).
NKTR / ARMO
I like(d) ARMO I had put in bids near the pricing range ($17) but at ~30 and 1B market cap I passed too for now but will keep watching. Some of the data looked quite interesting. It was also intriguing that they claimed reduced immune related events. But the normal caveats (open label, small n's, combo data, pd-1 status? ...) apply here as with Nektar.
A science person can probably answer a lot better than me on the differences. 214 and 010 are being tested in combo with PD-1 (but so are many other agents) and they are both cytokines, stimulating the immune system but there are vast differences too. I found this article quite informative if your interested more on the role of IL-10
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4322764/
They have an IL-15 (preclinical) that they say works similar to NKTR-214 (I didn't research to see how accurate a statement that is). Also an IL-12 and an anti-LAG-3... why their second program is an internal PD-1 doesn't make a lot of sense to me I'd focus more on the other pipeline programs.
As much as I liked ARMO there are some risks such as earlier studies were dosing between 5-20 mcg/kg and I didn't see a breakdown of response by dose (though small n's) current FOLFOX study is using just 5 mcg/kg. The SAE rate may become more of a concern perhaps that is why they are going with lower doses (though in some data it wasn't clear to me 10 mcg was much different then 20)?
Webcast link for NobleCon Noble Capital Markets' Fourteenth Annual Investor Conference
1/29-30
http://noble.mediasite.com/mediasite/Catalog/catalogs/noblecon14
FGEN DMD Video's
For people interested the clip is from a PPMD webcast with Elias Kouchakji VP Clinical Development and Drug Safety at Fibrogen. The whole video link is here:
Webcast Calendar
[Please see updating procedure at
the end of this post. All times are
U.S. ET unless indicated otherwise.]
NOTE: ANYONE MAY UPDATE THIS FILE
Edits: Updated February and March events
Audentes Call to Review Interim Data from First Dosed Cohort from ASPIRO
1/4/18 8:00am ET
https://edge.media-server.com/m6/p/8tfaxqgh
Goldman Sachs Healthcare CEOs Unscripted: A View from the Top
1/4/18
https://cc.talkpoint.com/gold006/010418a_as/
Biotech Showcase
1/8-10/18
https://statusproconf.com/Agenda/event/55
Annual OneMedForum
1/8-10/18
https://www.onemedmarket.com/onemedforum-sf2018
JP Morgan Annual Healthcare Conference
1/8-11
https://jpmorgan.metameetings.net/events/healthcare18/agenda
Needham Annual Stock Growth Conference
1/17-18
http://wsw.com/webcast/needham84/
Noble Financial Annual Emerging Growth Investor Conference
1/29-30
http://nobleconference.com/what.htm
BIO Biotechnology CEO & Investor Conference
2/12-13
https://www.bio.org/events/bio-ceo-investor-conference/company-presentations
Leerink Partners Global Healthcare Conference
2/14-15
http://wsw.com/webcast/leerink30/
RBC Capital Markets Healthcare Conference
2/21-22
BTIG Medical Technology, Life Sciences & Diagnostics Conference
2/26-3/1
Morgan Stanley European MedTech & Services Conference
2/26-27
Raymond James Institutional Investors Conference
3/4-7
Canaccord Genuity Musculoskeletal Conference
3/6
Credit Suisse Global Healthcare Conference
3/6-7
IPH.PA R&D Day
March 8th, 2018
Roth Annual Growth Stock Conference
3/11-14
http://wsw.com/webcast/roth32/
Cowen & Co. Annual Health Care Conference
3/12-14
http://wsw.com/webcast/cowen46/
Barclays Capital Global Healthcare Conference
3/13-15
Oppenheimer's 28th Annual Healthcare Conference
3/20–21
BioCentury Future Leaders in the Biotech Industry Conference ?
3/23
Needham Healthcare Conference
3/27-28
http://wsw.com/webcast/needham86/
H.C. Wainwright Global Life Sciences Conference
4/8–10
Deutsche Bank Healthcare Conference
5/8-9
Bank of America Merrill Lynch Healthcare Conference
5/15-17
Citi Swiss Healthcare Day 2018
5/17
UBS Global Life Science Conference
5/21-23
--
Procedure for Updating Calendar
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2. Make your additions or modifications, inserting new items in alphabetical or chronological order as the case may be.
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© 2018 InvestorsHub.com, Inc.
There are a few other Bio's on Retail Roadshow for those interested (catch them quick they go down when the companies start trading):
https://www.retailroadshow.com/
ARMO Biosciences, Inc.
Entera Bio Ltd.
Menlo Therapeutics
resTORbio
Solid Biosciences
Of these I find ARMO the most interesting pipeline they actually come up in this nice Life Science Advisors article by Michael Gladstone,
https://lifescivc.com/2018/01/reaping-sow-seeds-planted-long-ago-prepare-bear-fruit-2018/
Do you mean revenue numbers or what PW says about patient retention?
He certainly has said the later but the revenue numbers seem to go against that which is a concern for me. One would expect number of patients to grow over time (this early in launch at a substantial rate but given reimbursement issues at least at a modest rate) so if numbers are the same then they are losing patients (or perhaps even fewer treatments per patient then expected?).
Agree it could be just ordering patterns throwing things off with such small numbers you get a few big orders at end of one quarter and it makes it look artificially high (and hurts y over y comp and subsequent quarter).
The lack of transparency would make it hard to know for sure. I'm just saying its a caution and even though "off season" I'm very curious to see what the numbers are as I don't trust PW remarks want to see numbers.
Summer '19 sales start in US?
By company timeline its end of '19.... And when have management ever exceeded their timeline ?
I'm still curious what is happening in Y over Y sales and why we had a decline past quarter (shouldn't happen this early in a launch!) so even though "off" season curious to see if its a one-off or there are some potentially bigger issues commercialization/patient retention issues.
NPS Pharma Part 2 (aka Entera Bio)
https://www.retailroadshow.com/presentation/#/pres?presid=469484 (if it works if not) can get from here:
https://www.retailroadshow.com/
Lead programs & mgm
Hypoparathyroidism
Osteoporosis
http://www.enterabio.com/about-us/management-team
Oral delivery of large molecules/biologics
http://www.enterabio.com/pipeline/progress-summary
SLDB:
WHile Yes they do have a GT program and its likely the bulk of their valuation I would call them a DMD company that has a GT program. I vaguely remember the story on the founding of the company. If anyone is curious on the founding/history here is a little background article.
https://www.xconomy.com/boston/2015/11/05/biogen-helps-put-42-5m-into-a-fathers-duchenne-gene-therapy-quest/
If the stock trades at the valuation suggested I personally won't consider it will just watch but not invest (way to high if the bulk is in fact for their GT program). Guess it helps to have JP Morgan friends?
Its quite admirable what the father is doing but keep in mind doesn't always lead to success (Lysogene CEO tried/is trying the same in MPS IIIA) others with varying degrees of success UTHR (daughter never on Remodulin last I was aware), FOLD (Pompe not yet approved though daughter taking ERT), others?
Biotech Showcase Webcast Links are here
https://statusproconf.com/Agenda/event/55
Thanks for the article link, quite informative for people like me!
Interesting about oncolytic virus Nektar had a poster (I believe at SITC) with some data combining 214 with one (I think Jbog linked the PR of the company a while back).
I'll try to rephrase more simply since I'm a novice here. If the two agents are designed to teach the immune system to recognize the tumor as foreign would such an off target effect be sticking with the intended mechanism? I also wanted to make the point that single agent the effect is modest its the combination of both that yield the impressive (albeit only preclinical) response.
NKTR:
If a MOA is intended to activate the innate immune system combined with one that activates the adaptive immune system wouldn't (theoretically) that also be a sign the drugs are functioning according to their intended effect? NKTR claims 262 was designed to be combined with 214 and from the posters of their single agent vs. combined activity looks HIGHLY synergistic.
NKTR:
Nice that someone much more knowledgeable than me also finds it interesting!
Do you mean to avoid systemic exposure or is there something inherently problematic with intratumoral injection? The mouse data showing the response in both the injected and non-injected tumor with 214+262 was one thing that impressed me.
NKTR:
I thought 358 was a very interesting molecule and it surprised me that they didn't try to get some initial patient data before partnering... but Robin has made it clearer and clearer that he wants to focus the company in Oncology. I think the 262+214 trial could be quite interesting too (we should have data in '18) the mouse data was quite remarkable.
NKTR:
Howard Robin (again) mentioned the possibility of 214 possibly being approved in Sarcoma on the one study given how poor outcomes are in that patient population. Not being a big oncology investor how plausible do you think that is?
Merck, Roche, BMY