Biotech Values

[DewDiligence]

(BMY)—Enigmatic TMB comment by Roger Perlmutter on MRK’s 3Q18 CC:

https://finance.yahoo.com/news/edited-transcript-mrk-earnings-conference-200112434.html

I think that the question of how it is that mutation influences response rate, which it clearly does, is important to understand. People jump to the conclusion that that's neoepitopes and improved immune response. Not so clear for a whole variety of reasons.