Celldex is still up 38% for the year -- that's damn good. More important for Celldex and its shareholders will be results from the phase II study of CDX-011 in breast cancer expected this spring at the American Society of Clinical Oncology's annual meeting. I don't know if the CDX-011 study will be a success, but the company's decision to raise money last month is not a negative tell, in my opinion.
Ken B. doesn't like my FDA Drug Approval Contest: "Adam F., to quote your asinine boss, 'YOU KNOW NOTHING' and your silly contest is a meaningless and worthless exercise. Thanks for being such a reliable reverse indicator!"
Haters gonna hate.
Abe L. takes umbrage over my concerns about Exelixis' (EXEL) prostate cancer drug cabozantinib: "I will definitely be e-mailing a copy of your article today and asking the SEC to check and see what your options positions are today. Nothing but a hacket [sp] job on Exelixis and you know it. The SEC is worthless but guys like you are pathetic." I wonder if there's a person at the SEC who fields these emails and says to himself (or herself), "Oh, Adam must have written another Mailbag today." If so, I apologize for my fans. They can get a bit rambunctious.
Ted B. asks, "What is your vote on Surfaxin from Discovery Labs (DSCO) and why?" I say FDA approves Surfaxin on Tuesday. Why? The little-known FDA Mercy Rule. It's inconceivable that a company can screw up so badly that its drug is rejected five times in a row. Therefore, Surfaxin will be approved. If you want to read a contrarian take on Discovery and Surfaxin, Joseph Lee of FDATracker.com argues that FDA will reject the drug. --Written by Adam Feuerstein in Boston.
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