Replies to post #218220 on Biotech Values

[DewDiligence]

SLS—[re item #4 in your list]—Why does the relative risk reduction not equal 1-HR?

The relative-risk-reduction numbers reported in the PR refer to disease progression specifically, while the HR numbers in the PR refer to DFS. I.e., the discrepancy between the two sets of numbers is attributable to the number of death events.

[DewDiligence]

SLS—[re items #5 and #1 in your list]—…this is a GALE drug and a GALE trial.

Indeed. SLS is focused on the WT1 approach to immunotherapy, and yesterday’s PR seems designed to elicit licensing interest in the NeuVax (legacy-GALE) program. This presumably explains the unblinding of the trial based on a subgroup analysis.

[DewDiligence]

SLS +40% on this (!?)...

https://globenewswire.com/news-release/2018/10/02/1593983/0/en/SELLAS-to-Present-Data-from-Phase-2b-Trial-of-NeuVax-Herceptin-at-the-2018-Society-for-Immunotherapy-of-Cancer-SITC-Annual-Meeting.html

Although the PR was issued Tuesday after the close, the abstract title was available Monday night.

p.s. This is a GALE legacy program, not something that the original Sellas was working on.