Blue, a few things. First, there is NO small cell app coming for ADXS-HOT at this time. And for good reason: immunotherapies have largely failed on the small cell front, save for a big coup earlier this week from Roche.
So ADXS is not getting into small cell lung cancer. It is non-small cell that they're targeting, which is a much bigger market, anyway.
The other thing is that AMGN didn't steal the product. They invested in it early, while the risk was just about as high as you can get. If ADXS is a success, would you characterize your holding today as "stealing" the company for $1.50 a share?
In principle, though, I agree with the premise of your statement. An IND on the books should command a higher valuation from a potential partner, since this means that the risk has already been cut substantially. A drug that is approved to move to phase 1 has about a 9.6% base rate of success, which is leaps and bounds above the "0%" that the drug has in the preclinical stage.
So indeed, the longer we have to wait, the bigger the deal needs to be for a partner to get one board.
News 
Market Data 
Discover 
AI
