The most likely reason they bailed IMO is that they saw early data on the first few patients dosed and the tumor responses fell short of expectations. It's that straightforward. Talk of Amgen fearing Merck would get HOT or that HOT is better is fantasy. Amgen could buy ADXS as a whole in a blink or license HOT and test it alongside NEO. Who knows, but one could argue that for Amgen to bail this early the first read on the data likely fell significantly short of expectations. The market pricing ADXS at a negative enterprise value translates to there be virtually no investor or BP interest in the platform. Aduro shuttered their LLM tech, and the market is saying there is no future for ADXS' tech either.
What I’m suggesting is that perhaps Amgen realized NEO is difficult and that HOT is a threat, being cheaper and faster. So if production costs played into that thinking, that would be consistent. What I am also wondering is if ADXS turned up the heat by starting HOT with NSCLC. Possible that all of these factors played a role. I don’t personally buy that such preliminary NEO data as would be available would permit a conclusion regarding efficacy. The only remarkable result would be surprising immediate response. A lack of response would be disregarded.
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