Biotech Values

[biomaven0]

>>BMY/AZN—If you can't say whether a positive MYSTIC result is positive or negative for BMY, then it logically follows that you can't say whether a negative MYSTIC result is positive or negative for BMY. So, it seems odd (but not impossible) that a rumored decision by AZN's CEO to change jobs would cause a sudden sell-off for BMY.

Well of course the issue is not whether JQ can say whether BMY and AZN should be correlated on this binary event, it's what the market currently thinks (whether correctly or not). And currently the market seems to believe that a negative MYSTIC result would also be negative for BMY.