Biotech Values

[mcbio]

I am uncomfortable with RIGL's drug safety profile, especially for RA long term use. The market doubts whether it can clear regulatory hurdle easily even if it maintains phase II efficacy.

Jq, just want to revisit RIGL again, even if we did discuss it ad nauseam before. ; ) You don't think the stock can pop a bit if Phase 3 efficacy results are positive? I respect some of the safety questions (even if I don't think they will be enough to de-rail fostamatinib) but, with respect to those, if I go long RIGL again, I would wait as long as I could to take a long position before Phase 3 results are released in ~mid-2012. That way, you wait as long as you can to avoid some serious safety issue that causes the trials to be stopped early. If the trials run to completion, and efficacy results are positive, I would expect a nice jump in share price if valuation remains around current levels at that time.