Biotech Values

[DewDiligence]

EXEL—Does seem like they either completely misread the FDA or got blindsided - most likely the latter with the FDA posture changing after their committee meeting.

A third possibility: EXEL is not unduly surprised by the answer they got from the FDA and is merely pretending to be surprised. The notion that EXEL could get a better outcome from the FDA than what they actually got may have been a canard designed to impress the investment community with how wonderful and unique the company’s drug purportedly is.