ASCO Data Springs More Biotech Leaks

"We are hearing the PFS [progression-free survival] improvement in the Erbitux+FOLFIRI arm of this trial is on the order of approximately one month. While the abstracts will not become available until ASCO begins on June 1, the specificity of the market chatter gives us caution in front of the data presentation," writes King in his research note.

It doesn't have to be this way. ASCO could simply make research abstracts for its annual meeting available to everyone online and at the same time. This is the open and fair policy followed by just about every other medical organization.

ASCO wouldn't comment for this column.

In the past, the organization has said that it chooses to mail out advance copies of the abstract books for exclusive use by members in order to give them time to prepare for the meeting. But there are other medical meetings held during the year that are just as large as ASCO, and attendees at these meetings, who don't get early abstracts, seem to have no trouble getting ready getting abstract.

Besides, how would making abstracts available to everybody at once hinder ASCO members from preparing for their meeting?

"It's just poor policy," says Cowen senior biotech analyst Eric Schmidt, a veteran ASCO attendee. "ASCO is the only organization that handles abstracts this way and it makes no sense. They should simply release the information at once to everyone and allow it to be used publicly, because that's what it is -- public information."