Biotech Values

[ghmm]

ARNA:

I agree they didn't really tell us a lot of information (like if there was a dose response which prostacyclins have) and my hunch is the drug doesn't do well in P3 (not to mention the competitive space if its ever approved).

The slides are here (they were too tiny for me to make out on the webcast)
https://www.sec.gov/Archives/edgar/data/1080709/000156459017013314/arna-ex991_159.htm

I haven't followed the company or PAH space for a few years but the protocol lists 6MW as a primary and they missed (despite their spin) I think they had 6.8 meter improvement over placebo (which they claim did exceptionally well). Some baseline characteristics would make it seem on some metrics placebo patients should improve more (e.g. baseline new to therapy) but things like PVR mean and median suggest the patient mix is all over the place.