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I’m just naturally cynical.
BP is going to charge whatever the market will bear until they can’t. The Brits have already waved off and refused to approve select Checkpoint solutions as their National Medical System is financially strained to provide universal coverage.
As evidenced by the number of five figure monthly treatments on the market in the US, American companies have no compulsion to restrain costs...yet. “Yet” signifying US drug pricing will continue on the current upward glide path until some 3rd party force or influence changes the environment and unbounded economics within which BP operates. They fear government intervention but continue do their part to fuel runaway medical inflation which is up an astounding 85% in the US just since the year 2000. BP’s seem hell bent to trigger the very thing they abhor, government meddling.
In the meantime, my hope is we can offer competitively priced solutions that will provide medically viable alternatives for large portions of the worlds population.
G.B.
I realize the general population is conditioned to believe the more expensive the treatment, the more effective it must be but... It’s not clear to me how the world, particularly the 3rd world, rationalizes the burgeoning cost of checkpoint inhibitor therapies across multiple maladies. There may well be a rational argument for a lower cost alternative that works. I hope so.
G.B.
FWIW...
Called and spoke briefly to the LHA Investor Relations representative for ADXS. Very cordial and happy to take my call. Obviously limited on what she could share and I won’t make any leaps but she did confirm Berlin and company remain very focused on controlling cash burn, applying resources on most promising initiatives,
and building on their key relationship with AMGN.
Although a reaction was expected, they have been a bit surprised by the full extent of negative market response to the last financing action. JMO - The full reaction shouldn't necessarily have been a big surprise since the market always assumes the absolute worst particularly when a small company is forced to initiate less than desirable dilution based on limited financing options. Also just my opinion - something positive would likely be a good thing to have in hand before the next financing event.
Yet, in all... I certainly got the sense they feel they are still very much in the game pending outcomes of key initiatives and there’s simply not much they can share at this point in time.
I’m a sucker for a comeback, especially when there’s an under-dog involved...
G.B.
Drip... Drip... Drip...
Appears we’re firmly fixed in “If you don’t have anything positive to say, don’t say anything at all” mode for company management.
In fact, it’s hard to recall the last time this company had any positive news to share. Ub raises a good point, where did $140M go in two short years with apparently nothing to show for it.
As has been recited, multiple multiple deals announced with great fanfare who’s status is never mentioned or barely referenced. You’d assume at least one or two deals might have clicked if the science was working.
Feels more and more like we’re just slowly circling the drain. I feel more and more like an idiot for holding to this point.
G.B.
As with HER2, a different type funding partner is needed for AXAL who isn’t bottom line profit oriented. The World Health Organization or maybe the Bill and Melinda Gates Foundation.
Not clear the cervical patient numbers and economics work for cynical BP’s who aren’t well known for their pro-bono contributions to develop medical treatments.
G.B.
ADXS and “pleasantly shocked”? In the same sentence? Signifying something really good no one saw coming?
I’m struggling to conjure what that looks and feels like. Been too long.
G.B.
It’s always possible the wheels at AMGN will pony up $1B just to get Berlin to stop calling 20 times a day and being a pain in the ass.
Brilliant strategy and they certainly won’t miss that amount of chump change.
Go KB...
G.B.
Pretty blatant if the SEC was roused from slumber to act...
http://www.rttnews.com/2936120/clovis-oncology-executives-charged-with-misleading-investors-about-cancer-drug.aspx
ADXS is my first and last biotech investment. The deck is simply too stacked against small investors.
G.B.
Thanks for sharing the information about Terry. His wit and insights will be missed.
G.B.
I honestly don’t think investors are a consideration in Princton NJ at the moment Catt... I think they are balls to the wall focused on how to remain a going concern for the next 18-24 months until they can prove they have a product that’s medically and commercially viable.
Past regimes have shown no qualms about throwing investors under the bus, via outlandish comp programs, when they had $200M, so it’s even less likely they’re losing any sleep over crushing their investors now.
I’d respect them more if they just leveled with us rather than the occasional, “we’re all about creating shareholder value.” My bullshit sensor goes on tilt when I hear that.
G.B.
The upcoming conference call will include tells on who they feel they need to woo and engage going forward. I don’t think they’ll target current investors who have been badly burned. Also, the woeful list of past failed and toxic deals has been already been symbolically buried.
Prospective new investors will be targeted via - “Look at the shiny objects we have that will land in the next 18-24 months.”
Re; ADXS string of managers...
“One should never attribute to malice that which is adequately explained by stupidity (and greed)"
Hanlon’s Razor
G.B.
Current investor interests are incidental, a non factor in the ADXS decision tree and essentially collateral damage. I suspect this has been the case for some time. New investors have the advantage of reviewing the history of the company’s actions, current prospects and then deciding whether to proceed with caution.
I’d already written my Investment off so if anything positive happens in the next 2-3 years, it will be a happy surprise.
Timing is everything in life and getting in early with ADXS wasn’t the advantage I hoped it would be.
G.B.
"Pediatric osteosarcoma is a very small market,"
Agree Bourbon, small market with passionate supporters seeking a cure. Hasn’t gotten much press but Dr. Mason announced an expanded 80 canine trial initiative in July 2017 and reference her team’s work would directly support ongoing COG research into HER2 therapy for pediatric osteosarcoma. I think she continues to be a HER2 true believer.
Good to see HER2 initiatives are still alive and active.
G.B.
Agree with your summation Easy... To help reinforce your point my post #73856 from July. There can always be a surprise from left field, but AMGN interests in NEO and perhaps HOT appear to be our best shot at this point.
“Selected excepts from ADXS IR... A significant number of collaborations, regulatory endorsements and shots on goal over 11 years to arrive at our current 2 or 3 product standing with AXAL(?), NEO and HOT. Many of the earlier initiatives appear to have just evaporated into the ether as they haven’t been referenced by ADXS in years or I assume exist in some form of suspended animation. As a small biotech with limited funding - hindsight might suggest ADXS was overly ambitious and spread themselves very thin with too many non or under funded initiatives they’ve now suspended.
Very unfortunate as many of the products they’ve been forced to abandon appear to have important medical potential. I hope they’ve chosen the remaining product portfolio wisely. The companies complete IR history back to 2007 is painful to review. Its interwoven with early scientific promise as well as managerial greed and numerous operational missteps and over-reach. G.B.”
Advaxis Announces Dosing of First Patient with ADXS-NEO, an Investigational Customized Immunotherapy Approach Targeting Personal Neoantigens
Jun 11, 2018
Advaxis Submits Conditional Marketing Authorization Application for Axalimogene Filolisbac for the Second-Line Treatment of Metastatic Cervical Cancer in European Union
Feb 13, 2018
Advaxis and Bristol-Myers Squibb Announce Clinical Collaboration to Evaluate ADXS-DUAL and Opdivo (nivolumab) in Metastatic Cervical Cancer
May 30, 2017
Advaxis and SELLAS Announce Licensing Agreement for Development of WT1 Antigen-Targeting Immunotherapy
Feb 27, 2017
Advaxis’ Axalimogene Filolisbac to be Developed and Commercialized in Latin America With Stendhal
Feb 3, 2016
Amgen And Advaxis Enter Global Cancer Immunotherapies Collaboration
Aug 2, 2016
Advaxis’ AXAL Receives Fast Track Designation by the FDA as Adjuvant Therapy for High-Risk Locally Advanced Cervical Cancer Patients
Jul 21, 2016
European Medicines Agency Committee Classifies Advaxis’ Axalimogene Filolisbac as an Advanced-Therapy Medicinal Product
Jul 18, 2016
FDA Grants Special Protocol Assessment to Advaxis’ Phase 3 Study of AXAL in Patients with Cervical Cancer
Jul 6, 2016
FDA Grants Advaxis Fast Track Designation for ADXS-HER2 for Patients with Newly-Diagnosed, Non-Metastatic, Surgically-Resectable Osteosarcoma
Apr 28, 2016
Advaxis Receives Orphan Drug Designation in the European Union for Axalimogene Filolisbac for the Treatment of Anal Cancer
Dec 14, 2015
Advaxis Receives Orphan Drug Designation in the European Union for ADXS-HER2 for the Treatment of Osteosarcoma
Dec 1, 2015
FDA Awards Grant for Phase 2 Study of Axalimogene Filolisbac (ADXS-HPV) in HPV-Associated Head and Neck Cancer
Sep 14, 2015
Advaxis Announces Licensing Agreement With Knight Therapeutics and Raises $25 Million Through Direct Investments From Knight and Sectoral Asset Management
Aug 26, 2015
Advaxis Announces FDA Clearance of Investigational New Drug Application for Phase 2 Study of ADXS-HPV and Incyte's epacadostat for the Treatment of HPV-Associated Early Stage Cervical Cancer
Jun 1, 2015
Advaxis and Sorrento Form Collaboration to Evaluate Combinations of Advaxis's Lm-LLO Immunotherapy Technology and Sorrento's Immunomodulatory Antibodies
May 19, 2015
Advaxis Announces FDA Acceptance of Its Investigational New Drug Application to Commence Clinical Trials of ADXS-PSA in Combination With Merck's KEYTRUDA(R) (pembrolizumab) for Prostate Cancer
Dec 8, 2014
Advaxis Submits Investigational New Drug Application for Phase 1/2 Study of ADXS-HPV and MedImmune's MEDI4736 for the Treatment of HPV-Associated Cervical and Head & Neck Cancer
Nov 12, 2014
Advaxis and Merck Form Collaboration to Evaluate Investigational Combination of Two Novel Immunotherapy Candidates for Advanced Prostate Cancer
Aug 25, 2014
Advaxis to Ring The NASDAQ Stock Market Closing Bell
Mar 26, 2014
Advaxis and UC San Francisco to Evaluate Cancer Immunotherapy Constructs in Prostate Cancer
Mar 17, 2014
Advaxis Signs Exclusive Licensing Agreement for Development and Commercialization of ADXS-HPV in Asia
Dec 9, 2013
Advaxis Awarded Best Therapeutic Vaccine
Apr 12, 2012
Advaxis Announces Collaboration with Wistar Institute
Apr 14, 2011
Advaxis India Cervix Cancer Trial Begins Dosing
Nov 24, 2010
Advaxis Enters into Collaboration with the University of British Columbia
Nov 8, 2010
India Approves Advaxis Trial in Cervix Cancer
Sep 22, 2010
Advaxis Signs Agreement with Cobra For Manufacture of Lovaxin C Vaccine
Oct 18, 2007
The accuracy of minor blip warrant trading and tracking may have some challenges. Stock Tracker app was reflecting volume of 9.6K mid-day. The same app is now reflecting 1,000 warrants traded at end of day. I’m sure other apps have variable counts.
Doubt it’s nefarious or even material. We’re all reduced to looking for any minor movement, feight or sign.
G.B.
Whoever fat fingered the Corporate Presentation update must also be buying warrants and fat fingered their offer price. ADXSW up .06 or 75% on 9.6K shares.
And what the heck is driving ADRO’s rise... Rarely any news and the Exec’s unload their shares like they’re holding molten lava, yet they’re kicking ADXS ass on market cap.
G.B.
Baring all the signs an Admin updated the Corporate Presentation using their elbows it’s not beyond reason said Admin, having overheard conversations, jumped the gun and included the AMGN HOT partner reference.
I can rationalize lots of reasons AMGN would be anxious to lock up HOT to compliment their favorable position with NEO.
G.B.
Semi old news... For reasons known only by God, ADXS is declining to support right to try.
G.B.
Perhaps ADRO went through the couch cushions and found enough loose change to make a run at ADXS.
Isaacs has coveted Dr. Paterson’s body of Lm work since he first started trying to steal it several years ago.
G.B.
Would be somewhat encouraging to see management weighing in and buying unless current internal actions prevent them from doing so.
G.B.
Ub - “You have not heard my "worst" expectations yet.”
Do they involve joining NWBO in the biotech land of pink sheet living hell?
As the old quote goes...
Q. - “How did you go bankrupt?
A. - “Gradually, then suddenly”
We’re now in territory where most of the refinancing options come at a terrible price. Hard to be too tough on Ken as most of the mismanagement damage was done long before he arrived.
G.B.
It’s a little tough to gin up the excitement to take on entrenched institutional lawlessness when its not a priority for the SEC, nor FINRA. These bureaucratic institutions say all the right things about enforcement but clearly are not serious or they would put teeth into the regs and laws intended to prevent Naked shorting.
The sweet little tap on the wrist for Interactive Brokers being a great example. These a-holes thumbed their noses at FINRA for three years while practicing blatant Naked shorting and received a $5.5M fine. If FINRA was serious about these abuses, Interactive Brokers would have been required to account for and sacrifice all illicit profits and their CEO and others would be looking at time in Federal prison. The simple strategy is called “shoot one and scare the hell out of the rest” and it’s very effective. A $5.5M token fine is an absolute joke and does nothing to curtail current bad behavior.
Dan had a front row seat to the manipulation and shorting abuses his company was being subjected to when the pump / dump played out after the Adage investment in 2015. He was certainly a witness as short interests climbed to over 30%. He, nor his successor, Lombardo lifted a finger. You’d assume these guys, nor the BOD, aren’t idiots so why didn’t they fight back via FINRA. Especially if they felt company value was being unfairly reset, not based on scientific promise, but via strong arm reallocation of ADXS falling market cap into self-interested third party bank accounts.
All the wrong people appear to be making money on small developmental biotechs’.
G.B.
A more complete outline of Interactive Brokers violations and FINRA actions direct from the FINRA site. At the lower right side of the web page (www.finra.org) FINRA list an Investor Fraud and Complaint notification section as well as Whistle Blower processes. I expect both require hard data and examples of abusive trading patterns to get FINRA involved. Whistle Blower would likely apply to an insider broker with a conscience, assuming they exist.
http://www.finra.org/investors/investor-complaint-center
http://www.finra.org/industry/ofdmi (Whistle Blower)
“For Release: Monday, August 20, 2018Contact(s):
Michelle Ong (202) 728-8464
Mike Rote (202) 728-6912
FINRA Fines Interactive Brokers $5.5 Million for Regulation SHO Violations and Supervisory Failures
WASHINGTON – FINRA announced today that it has fined Interactive Brokers LLC (Interactive) $5.5 million for Regulation SHO violations and supervisory failures spanning a period of at least three years.
To limit ongoing naked short positions, firms are required by the SEC’s Reg SHO, after completion of a short sale transaction, to deliver the shares on settlement date or take affirmative action to close out the “failure to deliver” shares by purchasing or borrowing the securities. If the failure to deliver is not closed out, the firm may not accept additional short sale orders in the security without first borrowing or arranging to borrow the security. Regulation SHO also prohibits the execution or display of short sale in a “covered security” at a price that is less than or equal to the current national best bid when the price of the security has fallen by 10 percent or more in one day.
FINRA found that from July 2012 through June 2015, Interactive’s supervisory system, including its written supervisory procedures, was not reasonably designed to achieve compliance with the requirements of Regulation SHO. Also, Interactive repeatedly ignored “red flags,” including internal audit findings, multiple internal warnings from its clearing and compliance personnel, its own annual risk assessments, and FINRA exam findings, indicating that its Regulation SHO supervisory systems and procedures were unreasonable. Although Interactive was aware of these supervisory deficiencies, it did not implement remedial measures until mid-2015. As a result, Interactive did not timely close-out more than 2,300 fails-to-deliver, and accepted and executed short orders in those securities without first borrowing (or arranging to borrow) the security approximately 28,000 times. Interactive also permitted the execution or display of more than 4,700 short sale orders in covered securities at a price less than or equal to the current national best bid.
Susan Schroeder, FINRA Executive Vice President, Department of Enforcement, said, “Firms that are aware of deficiencies in their supervisory systems must promptly remediate them. In this case, the firm internally identified the problems, yet did not revise its supervisory systems for more than three years, creating the potential for negative impact to the markets and investor harm.”
In settling this matter, Interactive neither admitted nor denied the charges, but consented to the entry of FINRA’s findings.
FINRA is a not-for-profit organization dedicated to investor protection and market integrity. It regulates one critical part of the securities industry – brokerage firms doing business with the public in the United States. FINRA, overseen by the SEC, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees. For more information, visit www.finra.org.”
G.B.
How inept or arrogant were these guys to get fined when the consensus is Naked Shorting runs rampant in all segments of the market. This amounts to a slap on the wrist in view of the profits they likely booked over the three year period in question.
“Interactive Brokers fined $5.5 million for breaking short selling rules: Wall Street Journal
(Reuters) - A unit of Interactive Brokers Group Inc (IBKR.O) has been fined $5.5 million by the Financial Industry Regulatory Authority (FINRA), the Wall Street Journal reported on Monday.
The unit, Interactive Brokers LLC, was alleged to have broken federal rules on the “naked” short selling of stocks thousands of times over a three-year period, according to the report.
FINRA, Wall Street’s self-regulator, said Interactive Brokers LLC ignored repeated “red flags”, the WSJ said.
The Connecticut-based company neither admitted nor denied wrongdoing as part of the settlement, the report said.
Interactive Brokers was not immediately available for comment.”
Good repost on neoantigen companies...
The players are obviously multiplying quickly. You’d assume BP’s are watching these companies closely and like ADXS / AMGN, collaborations are being formed. There will be winners and losers but delivering promising patient results likely means a quick acquisition for some of the companies listed. No BP can afford to miss the neoantigen boat.
G.B.
You’re correct Ig... GOG is listed as a collaborator on the Aim2Cerv trial, not a funding source.
G.B.
Not clear who maintains FDA clinical trial data but several of the ADXS trials appear to have out of date info or have simply been abandoned. Reflects poorly on the company either way.
The possible decision to wind down the phase III AXAL trial which is being funded by GOG has to be complicated. The only trial thus far to utilize a placebo to validate efficacy of Lm.
Study of ADXS11-001 in Subjects With High Risk Locally Advanced Cervical Cancer (AIM2CERV)
https://clinicaltrials.gov/ct2/show/NCT02853604?term=Advaxis&rank=2
Study is targeting 450 participants in 117 locations including 41 sites in 24 states and 76 sites in 14 countries, including multiple sites in South Korea, Spain, Russia. All sites indicate recruiting is underway. Patients are being treated.
Stopping this trial strands a large number of patients, leaves participating medical professionals hanging and has to be considered a large hit on whatever reputation ADXS still enjoys. One might question if the trial was ever a realistic endeavor in view of deteriorating company circumstances.
Small company drug development is ridiculously hard made harder in this case by a string of bad deals and flawed decisions.
G.B.
I agree. I can conjure lots of reasons for them deferring from supporting “right to try”. None of them good.
If you have a better medical treatment than the current SOC, support any and all access to it and then talk about the positive results if you can.
You’d assume they’d accidentally make the right call occasionally.
G.B.
Tesla shorts down $1B today and counting... Screaming bloody murder Musk earlier tweet about taking the company private doesn’t qualify as official notice of company intent. Interesting to hear shorts complain about being surprised since they operate in total secrecy and there’s zero transparency into their actions.
Screw them.
Wish there were more CEO’s who were gunning for those who bet against their company’s success.
G.B.
Aratana Earnings IR...
A passing reference to AT-014 progress during conditional use in 24 Veterinary practices would have been nice.
Perhaps it was referenced in the earnings call Q&A.
Aratana Therapeutics Reports Second Quarter 2018 Financial Results
To view this release online and get more information about Aratana Therapeutics visit: http://aratana.investorroom.com/index.php?s=43&item=582
LEAWOOD, Kan., Aug. 2, 2018 /PRNewswire/ -- Aratana Therapeutics, Inc. (Nasdaq: PETX), a pet therapeutics company focused on the licensing, development and commercialization of innovative therapeutics for dogs and cats, announced its second quarter 2018 financial results. For the second quarter ended June 30, 2018, Aratana reported total net revenues of $4.9 million and a net loss of $6.4 million or $0.14 diluted loss per share.
"We believe that our therapeutics, Entyce, Nocita and Galliprant, are helping to elevate the standard of care in veterinary medicine as is evident from the strong clinic uptake, quarter-over-quarter growth and enthusiasm expressed to us by veterinarians," stated Steven St. Peter, M.D., President and Chief Executive Officer of Aratana Therapeutics. "Our commercial organization continues to concentrate on expanding our access to target accounts and growing same clinic revenue."
Good read from an EU based publication...
https://labiotech.eu/features/pd-1-pd-l1-checkpoint-inhibitors/
There may be valid reasons AMGN hasn’t pursued a checkpoint inhibitor strategy. As the attached article suggests several big BP’s are going all in on PD-1 and PD-L1 after seeing some early success but it’s clear there are a host of challenges ahead to tame checkpoint inhibitor platforms. The article suggests application of biomarkers (something ADXS is also pursuing) would help identify likely patients who will benefit most from checkpoint therapy, but that will narrow the target population impacting already out of whack patient treatment costs.
Toxic with patient costs of $150,000 a year would seem to render checkpoint solutions vulnerable to the next big iteration of less toxic, lower cost solutions. See Lm among others AMGN is developing.
The article also references current CART-T therapy annual cost of $400,000. Obviously that’s not supportable nor sustainable.
G.B.
HTFS... Agree with your rational thoughts on routine BO valuation exercises. I think the math may work differently in this case.
I got to $20 due to the rather significant financial upside of a medical product platform that successfully displaces one or more Standards of Care.
I didn’t assume an ADXS BO number would be based on historical factors like terrible management, a crappy BOD, squandering of financial resources or being voted a great place to work. I also didn’t penalize the science for the savage 3 year short attack on the stock price.
I assumed a big company like AMGN being able to accurately project the annual worldwide revenue stream derived over years from NEO and multiple HOT constructs. Conservatively, a very very large number.
The science is certainly worth more than the current ridiculous anomaly of $1.50 a share and frankly worth a lot more than $20, which is peanuts for AMGN. We can all hope for more but if that’s the bargain basement number we get due the ravages of an unfair market, so be it.
In light of the information we have to work with, all opinions and projections are suspect.
G.B.
James - I think we all hope they’re talking to anyone who will listen. Anyone who has deep pockets and wants to deal but... We’ve been led to believe a deal with someone for AXAL in the EU was imminent since Dan was CEO. TL beat the same drum. Nothing has materialized.
I think we’re simply saying it’s notable we actually have a real and active partnership with AMGN with significant financial possibilities and... we’re more encouraged by something real and tangible than partnerships we’ve heard are coming or will be expanded any day now for years.
If AZN or MRK pull up to the front door of ADXS in a Brinks truck, we’ll all be celebrating. Just don’t hold your breath.
G.B.
My numbers and opinions suck just like everyone else’s and they’re a lot lower that Dan’s $6+ billion projection he provided after he was named CEO. But...I’d like to think a BO number honestly derived from future revenue projections across NEO and multiple HOT medical constructs, covering worldwide patient distribution opportunities, delivers a number that gets most people on the MB healthy.
If NEO and HOT work as advertised, AMGN will be guilty of theft at a $20 a share buyout, but current financial circumstances may force a lowball outcome that’s lower than the science is actually worth.
As for other BP’s, they’ve all had ample time to signal a positive partnership expansion with ADXS. None have for whatever reason. I think our collective money and hopes are on AMGN.
AXAL, HER2 and AT-014 are wild cards I’m not factoring in on valuation discussions.
G.B.
Competition for HOT from another BP, were it to ever materialize, is the best leverage ADXS could hope for. Rights to NEO are sewn up by AMGN. Not sure to what degree this would discourage another BP from pursuing one or more HOT constructs. Fairly rare to see turf or bidding wars break out between BP’s. It’s costly and creates enemies on future transactions.
An AMGN buyout of ADXS seems like the most logical outcome in the next 6-12 months. Pick the BO number that makes you feel ok. ADXS is quickly running out of financial runway. A fact not lost on AMGN.
Foolishly long since 2010, but an emerging realist.
G.B.
If I’m AMGN and I covet ownership of the NEO and HOT constructs... Sitting across the bargaining table is a small financially wounded biotech that has little leverage and diminishing financing options. It would not be in my best interest to do any interim deals that would strengthen ADXS hand or increase the SP and the buyout price I will ultimately pay.
Just one more reason the 3 year orchestrated short attack that hollowed out the ADXS SP and perceived company value was a criminal exercise that screwed investors generally and retail investors in particular. We’re now witnessing the downstream ripple effect on the companies fortunes.
G.B.
I believe Sean had research oversight responsibility for a host of promising AMGN partnerships. NEO was just one of several. It will be interesting to see if something he was monitoring peaked his interests enough to cause him to jump. It appeared he was a made man at AMGN.
Wherever he lands it will be worth investigating to see what he found to be so compelling.
G.B.
Financial assistance / partnership in completing AXAL phase III would signal a big vote of confidence from a BP. Early AXAL results are clearly superior to the current, long standing SOC.
So what gives? Could it be as crass as the future profitability numbers expected to be derived from the target patient population aren’t large enough to warrant BP interests or investment? Very sad and unfortunate if that’s the case, but not beyond the realm of BP behavior.
Not clear how they can rationalize $12,000 a month in treatment costs (like PD-1 or PD-L1) for an Lm solution that costs a small fraction of that amount to produce and administer.
Reality is maintenance drugs are BP’s bread and butter. Low cost innovations leading to early diagnosis cures, not so much.
G.B.
Gold posted this abstract presentation link in April from the 2018 AACR Conference.
http://www.abstractsonline.com/pp8/#!/4562/presentation/10470
I followed the thread related to the two AMGN participants who helped compile the data. Hyewon Phee, Senior Scientist and Researcher with specialties in Inflamation and T-Cell development. Also Jim Johnston, an Executive Director Research at AMGN. Both have impressive resumes and credentials suggesting AMGN isn’t supporting NEO research with their B team. Hyewon Phee also covered NEO research at the European Neoantigen Summit in Amsterdam in April of this year. It was referenced as a podium presentation at ENS. I couldn’t find a copy but would assume it was similar or the same as the AACR dataset.
Two AMGN names to watch and follow... Whether by accident or design, AMGN is more than likely the best scientific partner ADXS could be linked with to advance the NEO platform. Would be great to see AMGN weigh in on Hot.
G.B.