Of course you must beat the control arm. And the control arm is an evolving thing that changes based on overall healthcare/treatments, health of population etc. This was identified as a risk by many. Both a healther control and Opdivo as new SOC. All shot down as alarmist or impossible etc.
Is Microsoft of Biotechnology a fact? There seems to be a dispute with hat is fact and what is opinion here. The valuation of my investment drops regardless.