For Gonzalez woh posted on Yahoo:
3. Xoma will not release total mortality soon after the close of enrollment (IMO). Too preliminary. We
might have something around 120 days after close- say 4, maybe 5 months. Before August 31? This is
based on 90 day f/u, and time for QA audits and analyses. If the release info too early and they have to
go into analyses with different figures, it would cause shareholders annoyance. Also, FDA gets
annoyed with any promotional activity before the facts, as they see it. They have guidelines on this
which I have not read. (Again see SNUS. IMO FDA can hold a grudge.) Factors that may influence
any release of info besides this is how Xoma is monitoring their sites, and how frequently QA reviews
cases. Are they submitting data on computerized CRFs? Are CROs utilized, etc etc. In any case I
would expect yet another statment from Jack like "Xoma is optimistic" as we saw with "Xoma is
close." Xoma will be fast tracked, submitting by sections, so don't expect a lot of info to prempt their
regulatory process. This is company does not engage in hype, or any semblance of it."
My reply:
Biotech companies will have to learn that important information cannot
be held back from shareholders under the guise that releasing it would be hype. Jack Castello's share purchase was made knowing the targeted mortality figure and also total deaths at the time the purchase was made. This information will be available shortly after the trial ends. This information can and should be released to shareholders. If XOMA fails to release it the market will punish the stock, the $12 million received for the sale of stock at a premium will end up being many more shares sold at a discount and new sources of funds will need to be sought with the stock at record lows. Shareholders of XOMA have been patient but there are limits. To finally get to the end of trial and receive no information will not be acceptable.
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