Re: AQXP
Sure thing Kiro. I certainly agree. I think the company is extremely under appreciated at the moment.
Regarding the prior asthma data, I don't think it was unimpressive. More of just a crowded field to get into. '1125 still saw a 20% improvement in the LAR by 450 versus placebo (p = 0.027), and this was just a tiny 7 day trial. Who knows what results would be on a longer, chronic dosing. According the the company on the asthma trial: "Overall, the results for AQX-1125 compare favorably with published results for other drugs studied in similar allergic challenge trials that are in development or have been approved." Either way, the results help validate the SHIP1 approach.
Their other previous ph2 model of COPD trial showed a really strong, stat sig, 62% reduction in neutrophils relative to other agents. So another encouraging sign.
Dosing: They clearly believe 200mg will be as effective as 450, which should also serve in helping to mitigate the minor gastro effects. In fact, the company told me that the ultimate dose for phase 3 could be lower, and they are working to find the minimum effective dose. Smart move IMO.
What also really sells me on AQXP are the backers, as I mentioned in my first post. Three large pharma (PFE, JNJ, Pharmstandard) and Baker Brothers, who have continually been involved in financings since the beginning, and after so, with the previous ph2 data. Clearly, they were/are impressed with what they have seen pre-clinically and clinically to date. These guys are no slouches.
FWIW, Jefferies has a $40 target if both the COPD and BPS/IC ph2 trials read out positive (makes sense on 10.7M shares O/S). Remember as well, the company will be launching two new additional ph2 trials, atopic dermatitis and chronic rhinosinusitis (one this year, one next). And is planning to advance other next-gen candidates forward in cancer and inflammation. Lots of value drivers at this tiny valuation. Glad you agree for the most part.