Nog een, die overigens ook met de andere kant rekening houdt:
Jack - good post. Your thoughts on this are very similar to mine. Will start with the Cons: 1. No other solid tumor targets announced since HIF2 (despite them having at least a dozen unique patents in the area). 2. No promotion or even a simple PR about the upcoming ASCO presentation. 3. Poster, (ie. not oral) presentation / abstract title gives away nothing. 4. Comments on the earnings call seemed to almost skip over it, despite the proximity to data (and there was a tonal shift when the questions got to James Hamilton). Now, here are the Pros: 1. I don't think the Merck / Peloton data are a high bar to cross. 2. If the data are solid, and/or a partnership deal is in the works (which mandates a quiet period), management is doing long term owners a favor by being non-promotional and underplaying their hand. The event is not appearing on traders screens, etc. - element of surprise. 3. Oncology trials are expensive - as capital allocators, you want management to spend and focus on targets in which they have expertise, differentiation, a large patient population / TAM and an affordable development path. I think that either the HIF2 program is over or it gets partnered after this readout - I don't see it progressing further under Arrowhead's sole watch. Hopefully it is the partnership route. I'm also going in with low expectations, but in this case, am happy to be proven wrong.