Spectrum Pharmaceutecals Inc (SPPI)

[antihama]

Ville, here's my counterpoints to your arguments.

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

I just finished listening to the CC and taking notes. One of the first things I said to myself is, OMG, this drug will become Standard of Care and will be a big winner (and I mean big in a big way). So my expectation is that this stock is worth much much more. But while it might have been an easy game for the shorts, it was not because of the results. While the PR showing lower results than the abstract, the results are still stellar and anybody who listened to Dr Heymach's should come away with that conclusion.

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)

I think this misunderstanding of confirmed vs unconfirmed is true but still the confirmed results are still stellar.

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).

You could be right, you could be wrong. You could look at it that since the patients in the SPPI trial will be closer to their treatment physicians, they'll get better prophylactic care.

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

Well the other TKIs aren't better so you must be referring to TDM-1 with a ORR of 55%. Two things regarding that 1) that's interim data of the first 11 patients that as you say can be subject to change and 2) while the ORR for the pozi HER2 cohort is currently 42%, Dr Heymach mentioned that 2 unconfirmed patients are approaching confirmation which will make it 58%. Also, don't forget that the SPPI study will be be doing CT scans a month earlier so that might capture earlier responses. So I don't see TDM-1 as better.

Ville, I hope you're going to be patient with me. I am so bullish after listening to Dr. Heymach's CC and that will be conveyed in any follow-up posts. You're really going to get annoyed :) me thinks.