My concern, is that due to an Iran war, we will see a few weeks/months of crashing markets centered upon risk assets like biotech.
The worst case scenario would be for this to occur in May or June during what should be the final run up to ASCO(which, by the way, is fairly likely).
That "wall" is considerably steepened by this lingering prospect, which should only grow more significant with time.
Therefore, strickly from an Ariad investment viewpoint, it might be better for any attack on Iran that will occur, to take place as soon as possible, so we have time to recover from the resulting market and energy shock, before we get close to ASCO, etc.
Admittedly, not comforting thoughts. But I think that's largely what we're seeing these days.
