Well, if I recall way back before the preliminary results were...

Well, if I recall way back before the preliminary results were announced in March, a number of us were saying that in the case of a bad outcome, we would be looking at a SP of between $18 and $22.  And guess what, the share price overshot on the downside to $15, then overshot on the upside to $26, and has now settled back within that range.  

As a number of us have consistently said, we can't adjust our estimate of  the company valuation until we hear more price-changing news, so the current range of $18 - $22 should hold until something new is announced.  

My opinion only, though, is that the current price assumes a neutral to poor outcome of the ASCO presentation / abstract - i.e. reversion to salvage therapy only, perhaps pending the result of other studies in late 2016 / early 2017. So any surprise on the upside should have a positive impact on SP.

DYOR.