I happen to agree with Patrick here...1127 is probably nothing more than "stable disease" (at best). Nothing from the scientific community on the target, nothing from the patient community in terms of evidence it has worked in anyone (and it is a large trial with several centers), and not a single word from any of the medical conferences about the target or the compound. I suspect even if the results stink("meh"), the bankers will say, "it was never meant to be a single agent, but it would be a perfect 'bolt on' for PD-1 and see it as an acquisition target" and run it another 50 points.
Having said that, doesn't really matter if the compound is crap or not --- sellside thinks its a good story, and good stories drive stocks....I bought in very low single digits in 2011, and bought more, and more, and sold as high as 21 and change. Do I wish I still held it? I sure do---- but I still got 600%. So, rather make money than be right about 1127 being a dud. Having said that, no way I am going to chase this up here.
