Biotech Values

[mcbio]

Hey guys, these discussions about the side effect issues with 797 are really enlightening, but really miss the main issue from an investor's point of view. The real question for investors is whether ARRY can partner the drug.

I think all of the pros and cons we've been discussing about the data are presumably some of the things a prospective big pharma partner may be weighing, provided we can take the comments during the CC at face value that ARRY is already seeing interest from potential partners.

I can't imagine there was much, if any, potential partner interest for 797 prior to this latest data as ARRY didn't give any buzz before. So, I take the news that ARRY has already received significant partnering interest just two weeks after the data was announced as a good sign, though that certainly doesn't guarantee a deal will get done.

On this issue, it was very unfortunate that no one forced Squarer to more specifically define what he meant by "significant interest" in the drug from potential partners. You'd have thought that at least one of the analysts might have tried to pin Squarer down on a timetable for a partnership.

I think Squarer is too smart for that. Most CEOs don't want to be pigeonholed into specific partnering timeframes, for obvious reasons.

McBio, you didn't mention that Genentech has taken an ARRY molecule into Phase I testing.

That's old news (#msg-68535977 )

Nor did you mention Squarer talking about "additional discovery deals" coming soon.

That's also old news.

And did you notice how--I don't want to use the term "dismissive," because it is too strong--seemingly disinterested Squarer was in what AZN was doing with Selumetinib. Squarer's attitude seemed to be "Ok, AZN has the drug, we're not exactly sure what they're going to do with it, check with clinicaltrials.gov., because that's the only way we or you are going to find out anything; now let's talk about Novartis and MEK-162, because these are the guys we really like (and have a much better financial relationship with--Bladerunner))and we have this really cool joint committee with NVS and we're taking MEK-162 on our own into a clinical trial with MEK-162 in combo with a chemotherapeutic and let's not talk about Selumetinib anymore." "Oh yeah, and we expect NVS to move MEK-162 into a Phase III in melanoma, because the Phase II data was 'remarkable'."

I think AZN really does keep ARRY in the dark regarding the ongoing selumetinib progress, given the competing MEK deal with NVS. ARRY has disclosed this fact before. They also said AZN has a history of not disclosing upcoming trials and you only find out about them once they're up and running.