Biotech Values

[hirogen]

AEZS/KERX - I completely agree with Acgood. It's another ridiculous pump piece from a ridiculous pumper. From the company's statements and my calcs I believe KERX designed the trial assuming 5 mo MST for the control arm. The trial is not running all that late when you consider that KERX's original 4Q11 projections for the 360 trigger make no sense when modeled with any reasonable exp curve.

I also agree with Acgood in that the ph II data is not as strong as it appears from the topline numbers. Imo there are also important protocol differences between the ph II and X-PECT as well as regorafenib's CORRECT trial that lead me to believe that a positive outcome is far from certain.