Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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To be fair that's usually what phase 1 is all about. It would have been a nice bonus to have some secondary objectives indicating efficacy though.
This would appear to be what's being presented on Monday... an assessment of safety and tolerability before moving to phase 2 development. Reassuring but maybe not as exciting as some had hoped.
Yep it's not the cash, it's confirmation that JZP815 continues to be developed. In terms of value changing news, perhaps a more appropriate term is value confirming news. Sanofi prepared to pay $1.9 billion to get their hands on Kadmon's ROCK2 inhibitor showing firstly it's a product big pharma want and secondly they're prepared to pay top dollar to get it. The only other ROCK2 inhibitor in the world in clinical development is REDX's.
Completely agree about your point on liquidity though.
It's big news that the milestone was met. There's not a set timeline to the work and so it wasn't scheduled.
I think the rise is driven by the very small available liquid capital. It doesn't take a lot of spending to send it up or much selling to send it down. I am not complaining, just observing that there has been no fundamental value-changing news released recently. Receiving a scheduled payment isn't big news! Yes it would be great if it stays above 100p but it was in the 50s 2 week s ago.
I'm not sure this rise is driven purely by the ESMO presentation - take a look at the charts.
It started with the milestone payment from Jazz on 2nd September and then gained momentum with the article and buy tip from The Sunday Times on 5th September. Then we had the announcement of Sanofi's acquisition of Kadmon and their ROCK2 inhibitor on the 8th September. So a quck succession of events all highlighting the potential of Redx and the Sanofi acquisition in particular will not have gone unnoticed by bio investors.
If there was special news it would have to be released by RNS first before it was present at the conference on Monday. Maybe the recent excitement is a little ahead of the facts.