Biotech Values

[DewDiligence]

Re: INGN

>Without digging into the data, I don't have a problem with this. Patients are frequently reassessed, a patient with a PR could progress in the interim.<

Of course. But that doesn’t explain why today’s PR fails to mention the number of evaluable patients. In my experience, such an omission is almost always a bad sign.

>They could have dug up more data, one of their advisors could have brought these data to the company's attention, or they could just be trying to make themselves look good.<

I vote for your third option. New data or not, there’s no way that the historical RR on second-line chemotherapy changed from 20-30% last June to 5-25% now on an apples-to-apples basis. (If anything, one would expect the RR to go up over time, not down.)

I stand by my assertion that something fishy is going on here.