AVEO is a biotech with a successful PIII result already. Their PIII was short, 2 years, and the FDA didn't like it even though there was a major win on progression free survival. We get an update in August how the extended PIII is going. To my reasoning, there is > 50% chance this PIII corrects whatever happened last time which appears to have been the result of a combination of a 2 year PIII instead of a 3 year, and as it affects kidneys, hypertension is a wildcard. They added more patients and more time to show not only PFS but also OAS. I think they make it. They'll have enough data to drown the wildcards and show that PFS = OAS.
Typically before a biotech reports you get a pile-up, everybody wants in now. We're right about at $1.00 and there's only 3 months left before we get an interim update how the new PIII is going. If this interim PIII reports as I would expect, positively, then, this week could prove to be the last chance ever for bargain pricing. The on-balance volume has bottomed after a major new money coming in, and the 13,30,50 simple moving averages are all turning up. Their drug candidate has already been approved (more than once) in Europe before going on hold. We are waiting on the possibly over-cautious FDA.
For the purpose stated, the drug candidate appears to work well. The complication appears to be hypertension which may or may not be related at all to the drug candidate.
Typically before a biotech reports you get a pile-up, everybody wants in now. We're right about at $1.00 and there's only 3 months left before we get an interim update how the new PIII is going. If this interim PIII reports as I would expect, positively, then, this week could prove to be the last chance ever for bargain pricing. The on-balance volume has bottomed after a major new money coming in, and the 13,30,50 simple moving averages are all turning up. Their drug candidate has already been approved (more than once) in Europe before going on hold. We are waiting on the possibly over-cautious FDA.
For the purpose stated, the drug candidate appears to work well. The complication appears to be hypertension which may or may not be related at all to the drug candidate.