Replies to post #205319 on Biotech Values

[dewophile]

I would argue that a fairly high probability of Opdivo + Yervoy failure in NSCLC is already baked into the valuation

agreed - a positive result is going to lead to far more appreciation than the downside with a failed trial

p.s. Opdivo + Yervoy is also being tested in SCLC, which represents 10-15% of lung cancers

I'm not sure the odds are better in SCLC than NSCLC, but yes it represents another shot on goal for the combo

[Titan V]

BMY - Also being released this quarter is phase 1 data from Opdivo + HS-110 in NSCLC with $HTBX. Although tiny, this trial is listed as one of the select combination trials in the Nature article you shared last week.