Yesterday's drop might have been the result of the market tanking and profit taking on a stock that has run up on no significant news.It could have been a dump based on technicals.
Of course computers and jittery investors don't know if an increased drop out rate is significant or not significant.
The Pona data everyone is looking for is not due till June 4th.
This sets up an interesting scenario where all/most of the other biotechs at ASCO have already disclosed their data and Ariad could garner more attention than they would have had they submitted the longer term data in the recently disclosed abstract.
Once again,I see a buying opportunity on weakness.
If the stock goes anywhere near 15.50, I'll be heavily contemplating another unanticipated purchase.
BTW: Although The Rida in NSCLC patients with KRAS mutations study was small, the OS results were much better than PFS.
If the OS continues to meaningfully outperform PFS in a Phase 2, everyone will have to start assigning value to Rida again.
The market for NSCLC patients with KRAS mutations is significantly larger than the Sarcoma one.
