Replies to post #178023 on Biotech Values

[GD]

INFI priced in strong data with market cap
at $1.5B before the 2103 ASCO abstract release,
TGTX less than $5, market cap less than $185M
does not priced in much success, TGTX CEO see
ORR at 85% in DEC and peak ORR 90+% for the combo
trials, risk/reward is in favor of buying here.

[bellweather1]

TGTX(Post Ibrutinib/Idelalisib Combos in CLL)

Hi jaybe,

I think we have an ORR for TGTXs TGR-1202(PI3Kdelta)in R/R CLL-It's just for a relatively small number of pts(also for a relatively low avg dose(greater/equal to 800mgs) and only approx 2-3month avg duration of tx. The ORR was 67%(4/6)).

Obviously we need to see more pts, but when I factor in no signs of liver tox for approx 8 months tx(ceo report at Qtrly), and every reason to believe the ORR should improve in this drug class with increased exposure duration and higher doses, it's extremely compelling.

Comparing that to the IPI-145 data provided, in which they had identified a MTD, experienced 2 deaths, approx 7%liver tox., and overall AEs(greater/equal to 3), as best I could tell, in the 15-20% range, and an ORR of only 47%, I can see why IPI-145 is past tense post ibrutinib/idelalisib, but I don't think that tells us much if anything about TGR-1202, because, even at this early read, all the numbers are better, including the most important one it was designed for(low tox), and combo compatibility.

So I agree that we do need to see more numbers, but the comparison with IPI-145 still leaves me very encouraged.

I can also understand being cautious in a drug class where you've been burnt before-I(I think like yourself)was in ARIA in a very big way, so I do know about getting burnt. Nevertheless, I guess I'm hoping(on the basis of what looks to me like a very good value prospect(TGTX))to get on with my investment life.

Appreciate the feedback,

Thanks,

bw