Biotech Values

[JohnWayne]

BMY: I would bet that FDA doesn’t want to approve for TMB until they see OS results. So they give standard review to buy themselves a little more time for OS to mature and see if TMB is real deal or not. The kicker is that OS in TMB is not actually a powered endpoint per what BMY has disclosed, but I have a hard time believing FDA will approved Opdivo + Yervoy in TMB-H without at least a decent trend for OS even if it’s a secondary endpoint.