The answer lies somewhere in between.
PPHM management want to go alone for P3.
1) A lot of PPHM executive may loose job if the go for merger or acquisition , as garbage cleaning is very first step after merger.
2) PPHM executive rather wants to enjoy hefty salaries for next 3-4 year on bleeding shareholder money.
3) They will keep on pumping Bavi just like they pumped Cotara. If you don't believe then call a neurosurgeon in China and they will tell you that TNT Cotata is junk.
Bavi value:
Bavi may have some value in future but as of today it MOA is doubtful and not convincing . BP may not be interested in Bavi due to below reasons.
- They wants to see results of their own single agent therapy PD1/PD-L1 before investing in Bavi , which is not shown single agent activity as of today.
- P2 Bavi result are questionable and p-value is not very encouraging .
- There are other drug which has more potential in immunotherapy space . These drugs seems to increase T-cell activity . One example is INO other may be LBIO.
- Bavi survival advantage is not co-related to PFS advantage , which raises lot of questions on its working mechanism.
- Chimeric antibody has a long history of failure.
ws