Clearly the consensus here so far is that the results are excellent (and yes, it is a very small sample size). I can't find any other published study that employed an immunotherapy combination reporting an ORR over 60% and/or with a similar safety profile of Cavatak's. The data is clearly on our side here. At least in its current preliminary state.
Keytruda is obviously cannibalising the market for advanced melanoma treatments. All the combination studies so far are demonstrating good results for this cancer type. I sense, however, that it's the KEYNOTE-200/STORM study that should determine whether something 'significant' occurs with Cavatak - specifically the expected 40 NSCLC patients. We have only an
objective response rate of 19% for Keytruda alone in NSCLC and ORR
ranges from 56% to 65% for targeted therapy and from 7% to 37% for non-targeted therapy. There is (1) a generally untapped immunotherapy market for NSCLC; and (2) a lot of help Cavatak can offer in such a market if efficacious. Then again, companies lesser than Viralytics have been bought out on a much weaker evidence base.
In terms of the share price, the overall share price increase today was actually quite similar to that when the MITCI results were first announced back 18 Apr 2016 - respectively, 3.33% and 3.76%. It then shot from 0.69 to 0.81 (i.e. 17.39%). Obviously I can't explain all people's buying/selling decisions but these results are substantially better than MITCI and one would think that more people/companies will gradually take notice in the next few weeks which should hopefully be reflected in the share price.
