I think that you are missing the forest because of all of the trees. Earlier NCI statements cast doubt on the underlying TECHNOLOGY, but virtually NO ONE publishes NEGATIVE data because it can't be proven. The experiments either don't work because the underlying hypothesis is wrong, or the experiment wasn't done properly. The NCI now says that the experiment initially wasn't done properly, and now the underlying technology works.
Remember, LLY gave back Viracept to AGPH. BMY jumped ship largely because of technical problems which, for endostatin, appear to have been overcome.
It remains to be seen if the animal data can work in humans, but the underlying technology appears to be valid, and ENMD can get a THIRD PARTY to develop the drug (see tonight's DJ story).
Holaday may have an optimistic time line, but the price will probably go up tomorrow, because the underlying technology has been validated by a third party (the NCI - who got it RIGHT).
Betting on NEGATIVE data is a major no no, no matter if its generated by a for profit company like BMY, and or non-profit organization like the NCI.
It's hard to get a POSITIVE result without cheating.
Can't tell the players without a scorecard:
NCI 1, BMY 0
(hold onto you shorts, someone will be tugging on them tomorrow) |
