First of all, HOT is manufactured completely differently than NEO, because it’s not customized. It is not even clear that ADXS is making the HOT. Second, you say that Amgen would have licensed HOT also if it was a threat to NEO. Well, HOT was not announced until after Amgen’s deal. It is quite possible that Amgen had discussions with ADXS about HOT more recently. ADXS likely said you are not getting HOT for a song upfront like NEO. And you are paying by indication, not the whole thing. The talks broke down. Then ADXS pokes them in the eye with a HOT NSCLC trial in combo with Merck. That was likely the last straw for Amgen. Now they are looking at a race between NEO and HOT for the same indication. And HOT will move faster. And, to boot, it is a combo trial with a checkpoint inhibitor, which Amgen lacks. Amgen read the writing on the wall. The theory that a manufacturing glitch was so insurmountable that Amgen bailed on the whole program before seeing any data is pretty illogical. Now, take manufacturing glitches AND HOT breathing down your neck? Different story, maybe.
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