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Biotech / Medical : Immunomedics (IMMU) - moderated
IMMU 85.24-0.3%Sep 29 3:59 PM EDT

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From: Wildbiftek8/20/2019 4:08:00 PM
   of 58525
The SRPT snub yesterday may have something to do with today's price movement (and the hit to biotechs shares in general):

“The real driver(s) of the aytpical golodirsen CRL will continue to be a debate based on limited public disclosure of the granularity of facts, but the macro take home is clear in our minds—there is a regulatory “raising of the bar,” the analysts wrote. This could spell bad news for Sarepta’s other programs, namely its microdystrophin gene therapy that the Evercore ISI analysts consider the “major valuation driver of [Sarepta] stock.”
Sarepta’s recent communication strategy “on many elements has been atypical relative to traditional biotech company communication—yesterday’s press release [about golodirsen] is obviously just the most recent example,” the analysts wrote.

I'm not saying this reads through directly to IMMU's current situation, but there are some parallels to the situation with Sac. G. and a raising of the approval bar wouldn't generally be considered good news for IMMU. I still have high hopes for the ADC in general, but I'm leaning toward a later approval date than expected given this.
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