Biotech Values

[DewDiligence]

XOMA—Why in the world would you talk the topic based upon theory when you have real world data. Unless the real world data was counter to the theory.

Management wants to talk about real-world data from active programs; they don’t want to remind investors of the company’s past failures. The diabetes AE data would have to be strongly confirmatory—not merely consistent with—XOMA’s thesis about allosteric modulation in order for management to volunteer such information, IMO.

Thus, I will give you that the diabetes data are probably not strongly confirmatory; however, I disagree that they are necessarily contradictory to the allosteric-modulation thesis.