Biotech Values

[poorgradstudent]

EXEL / INCY

Tony, I've honestly not looked into the EXEL drug.

The PR battle between the companies working on JAK inhibition appears to be focusing on the selectivity of JAK2 inhibition over JAK3 inhibition. Pfizer's drug is more selective for JAK3, but will also hit JAK2. INCY's is the other way around, hitting JAK1/2 over JAK3.

From my point of view, the battle of the preclinical data at this point is a side show. Both the INCY and PFE drugs are accumulating clinical results, and I suspect investors are now focused on clinical efficacy. If the PFE and INCY drugs have strongly divergent clinical outcomes, then I suspect preclinical profiles of other candidates will get a fresh look.

So unless EXEL has clinical data (i honestly don't know), I'd place such talk as posturing. INCY's Friedman is pretty adept at this type of posturing towards PFE's candidate, and I don't think investors care for it (I know I don't). The PR battle for specificity and affinity occurs often, but as we saw with Vectibix, clinical results are all that matter.