Biotech Values

[iwfal]

CLDX -

I take the PR to read that 10 patients out of the entire patient population had triple-negative breast cancer. The PR also notes that GPNMB is frequently expressed in these patients. I imagine those patients with high GPNMB probably came from the triple-negative group

I would suggest that the math doesn't hold - e.g. per the poster they tested 14 patients for G+ and there were only 10 patients triple negative. Ex has a good point that it is likely they tested the two patients who had confirmed PR so 2/9 is enriched. Thus I would suggest that Ex's numbers are a more realistic assessment of the likely ORR in the on-going trial.

And that will not be stat sig against a 5% background rate for Physicians Choice.

PS I don't necessarily consider it bad that a ph ii is not stat sig - since they are supposed to be hypothesis generating, not proving. E.g. in this case it will probably tell them about whether they should aim at only triple negatives, or at all G+'s or only a certain intensity of G+ or ... . But it will mean additional delay before filing.