Comments on: How Array Got its Groove Back

By: Hammer Stock Blog » Blog Archive » Biotech Portfolio Updates – Immunogen, Array and Seattle Genetics

Sun, 24 Jul 2011 08:41:52 +0000

[…] Singapore-based company. In contrast to Array’s two previous deals with Amgen and Novartis (discussed here), the current deal is viewed by the market as a sign of weakness. Unlike the two previous deals, […]

By: Ohad Hammer

Ohad Hammer — Sun, 18 Jul 2010 00:08:21 +0000

Yep, very nice compound with solid clinical data, even though it’s in blood cancers. The approach of hitting specific isoforms of PI3K is a differentiator that could pay off going forward.

ohad

By: Montreal812

Montreal812 — Thu, 15 Jul 2010 15:12:15 +0000

Ohad,
thanks for your post and a question about CAL 101. Any thoughts?

It appears to hit the target

By: Ohad Hammer

Ohad Hammer — Thu, 24 Jun 2010 09:00:47 +0000

Toby,

It’s hard to predict trial outcomes on a specific basis but I think GDC-0449 is a very active drug that has already demonstrated impressive activity in a niche indication. In other words, we know it can efficiently inhibit the target (SMO)but how relevant this target is in other idications- hard to tell but my bet is that it is. The next data readout is from the ovarian cancer study. Personally, I think that there’s also a very strong rationale for using the drug for pancreatic cancer so I’m looking forward to results in that indication next year.

Ohad

By: Toby

Toby — Tue, 22 Jun 2010 20:34:07 +0000

Hello Ohad,

a question to Curis. GDC-0449 failed in patients with metastatic colorectal cancer. After that announcement the pps collapsed. Do you believe GDC-0449 has still good chances to be successful in other indications?

Regards
Toby

By: Ohad Hammer

Ohad Hammer — Tue, 22 Jun 2010 06:25:25 +0000

Hi Alex,

I think it’s mostly that. This is not a show stopper for XL184 but it’s certainly bad news for EXEL, as the drug has been returned twice first by GSK and now by BMS).

In general, Exelixis’ compounds did not generate “earth shattering” data at ASCO although there were some nice signals. The randomized discontinuation study looks interesting but we’ll have to wait several months to get a clear picture.

Ohad

By: Alex

Alex — Tue, 22 Jun 2010 05:54:53 +0000

HI , why EXEL is so down recently,is it only the XL184 ?

By: Ohad Hammer

Ohad Hammer — Sun, 13 Jun 2010 11:15:32 +0000

Hi Manish,

Will try to do a short follow up, depending on time…

Best,
Ohad

By: Manish

Manish — Tue, 08 Jun 2010 02:57:56 +0000

Well I was expecting the usual ASCO sell off, held on to ARQL and MITI–from long time as I believe in their technology and management above all the others. Regardless, I think its time for another insightful post from you regarding the ASCO presentations. I know its greedy of me, but you are due for a post, and now is the perfect time

By: sam

sam — Sun, 23 May 2010 21:05:02 +0000

arql held up remarkedly well during the market turmoil.
arql was only down only down 5% during the last 5 days compared to cldx being down almost 25% and miti down 15%.

also traders seemed to pleased with arql abstracts because arql traded higher a few percent on friday in contrast to miti down 7% on friday and cldx down almost 10%

Youre right again to exercise caution on miti and cldx while being optmistic on arql and I guess others are slowing coming to the same conclusion. Thanks for your helpful insight.

sam

By: heymang

heymang — Sat, 22 May 2010 12:44:52 +0000

What do you think of the MITI 110 abstract? Mediocre results or is that what you were expecting?? Thanks for your thoughts as always!!!!
heymang

By: Ohad Hammer

Ohad Hammer — Thu, 06 May 2010 06:43:47 +0000

I guess you are right, so will IMGN.

They want to raise money when they can.

By: sam

sam — Thu, 06 May 2010 06:30:13 +0000

http://www.streetinsider.com/Equity+Offerings/Arqule+%28ARQL%29+Files+%24100M+Mixed+Shelf/5598712.html

Arqule (ARQL) Files $100M Mixed Shelf
May 5, 2010 1:06 PM EDT

Arqule, Inc. (Nasdaq: ARQL) filed a registration with the U.S. Securities and Exchange Commission today to sell, from time to time, up to $100 million of Common Stock, Preferred Stock, Warrants, or any combination thereof.

I guess arqule will come under some pressure now due the

By: Ohad Hammer

Ohad Hammer — Wed, 05 May 2010 06:41:22 +0000

Thanks, Sam.

I can’t promise anything for this year. Will be going on vacation next week for 2 weeks

Best,
Ohad

By: sam

sam — Wed, 05 May 2010 06:15:13 +0000

Last year you gave your top picks for asco 2009. Do you plan on giving your top picks for asco 2010?

always a pleasure to read you thoughs,
Sam

By: Ohad Hammer

Ohad Hammer — Fri, 30 Apr 2010 22:48:26 +0000

No doubt CLDX is one of the promising cancer vaccines out there. Unlike DNDN’s Provenge, their vaccine has never been validated in a randomized controlled trial. Also, the market size of EGFRvIII GBM is pretty limited (1 of 4 pts).

If I had to choose, I would go with ARQL. Good data set with CDX-011 might change my mind.

ohad

By: sam

sam — Fri, 30 Apr 2010 21:10:40 +0000

Some biotech analysts are looking for the next dndn and one of their top picks was cldx.

Some analysts reasoning was that there is much more upside for cldx because it has a better safety profile and prolongs over survivals in brain cancer than dndn did with prostate cancer.

Arqle seems like it may be a safter bet than cldx but that cldx has much more upside in the short term than arql leading to asco.

If you had to choose arql or cldx with what we know right now which would you consider buying?

http://www.bloomberg.com/apps/news?pid=20601087&sid=aWSNKmcFDuJY&pos=7

By: Ohad Hammer

Ohad Hammer — Fri, 30 Apr 2010 02:47:12 +0000

I would attribute today’s jump to DNDN’s approval. There are certainly a great deal of anticipation for the ACTIII data, which should include a large number of patients (even though it is not randomized. It would also be interesting to see data with CDX-11 in breast cancer. It’s hard for me to predict the stock’s movement going into ASCO. 14 sounds pretty high though…

ohad

By: sam

sam — Fri, 30 Apr 2010 01:24:17 +0000

It seems like there is more excitement over cldx the closer we get to asco, however, it is only currently trading for about 8 while it was 14 last year at around asco. Shouldnt there be just as much excitement this year with more mature data for cdx 110?

Would you consider cldx a strong buy?

By: Ohad Hammer

Ohad Hammer — Thu, 29 Apr 2010 06:27:26 +0000

Thanks, heymang.

I don’t know about a secondary at ARQL. Their cash position is pretty solid and they are not supprting any large clinical programs (they pay for 197’s development with milestones and future royalties). If I were them, I would wait till later this year after the ASCO data and p3 initiation. On the other hand, who knows in what shape the markets will be in by then…

I am still very enthusiastic about MITI.If you are referring to my low expectations towards MT110, I think it’s still a high risk program and will require relatively high dose levels.

ohad