Spectrum Pharmaceutecals Inc (SPPI)

[Ville]

I added to my trading position just below $17.

There are some points that drove the price down yesterday:

1. expectations were way too high. Easy game for the shorts.

2. misunderstanding of ORR (prior data was unconfirmed RR, data from yesterday was confirmed), you can't compare unconfirmed (1 scan) to confirmed (2 scans)

3. The AE rate is very very high. The low discontinuation rate could be meaningless and just because MD Anderson is treating patients very well. I expect a much higher disc. rate in the two SPPI trials, another reason is that they upped the dose after dose reduction from 16/12/8 (MD Anderson) to 16/14/12 (SPPI trials).

4. there is better competition in HER2 exon20 as we saw on the conference. poziotinib isn't best in class there.

Nevertheless, chances of BTD in EGFR exon 20 IMHO are 75%. Worth speculating.