Replies to post #109519 on Biotech Values

[DewDiligence]

EXEL dropped 16% back in June after Bristol-Myers Squibb cut the development-stage drugmaker loose, but it looks as if that might have been a little premature.

Maybe. On various message boards, several posters have already scored XL184 as a big win for EXEL and a colossal blunder for BMY—all on the basis of some skimpy results on an endpoint that does not even have a formal definition. I’m not convinced that XL184 deserves to be characterized as a highly consequential drug just yet or that BMY necessarily screwed up to let it go.