Friday, May 18, 2018 7:15:34 AM
1 -Further details of the Advance study were elucidated via the Spectrum PR and spotlight on the ASCO abstract. So it’s almost w absolute certainty that Rolontis is on its way to being approved next year. When you had EvaluatePharma last year forecasting sales of the Coherus biosim to reach $648m by 2022 (now @ 2023-24 due their CRL delaying their application submittal to recently) and that efficacy was not a requirement of the Coheres trial, you realize that Rolontis, a novel molecule, will be competing more w Neulasta than any biosim. So from that angle you can price it above any biosim that comes out. As you can imagine, there’s lots of ways to market Rolontis, hopefully Spectrum won’t get to greedy.
But adding fuel to the SP rise is the suppressed price from naysayers using Raj’s 10b5 plan, selling 1M shares that ended earlier this week, as a rallying point even though selling 30,000 shares a day is insignificant to the # of shares out there. Could have been a delayed reaction since a Form 4 detailing Raj’s transactions coming out every 3 days finally ended (I think Raj's selling put a haze on the next 2 points too).
Part of the rebound could have been the positive effect of a very good 1st Q financial report where Spectrum beats on earnings and revenue and much needed improvement in corporate governance. Heck after the last (4Q) financial report where earnings and revenue missed, the share price went from ~$21 to $14 so it stands to reason that does it go up to $21 based on 1st Q results alone.
And last but not least was the news coming out of AACR, where we found out that the outstanding results that came out at WCLC back in Sept for the 1st 11 EGFR patients was confirmed, and of Dr Heymach’s recent video where he indicated that the # of exon 20 insertion mutations in all tumor types doubles the # of patients that we see from those in NSCLC (i.e. to some ~40,000 pts).
So while the Rolontis news on Wed may have been the main contributor to the share price hike, there were other suspects we needed to ID in that line-up.
Recent SPPI News
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- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 09/26/2023 09:23:08 PM
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