Biotech Values

[DewDiligence]

MS webcast: SNDX reiterated 3Q18—(next 9 days)—completion of enrollment and release of PFS data in the phase-3 trial in HR+/HER2- breast cancer. (The unusual trial protocol requires that enrollment be completed prior to the DSMB’s releasing the PFS analysis.)

The HR for PFS has to be ≤0.67 for success, according to the company (#msg-142755004). This doesn’t seem like an unattainably tough threshold, but the modest enterprise value of ~$60M implies that the market expects failure.