John Mason

Answer was yup. Closed $SKHY $000660.ks again. Just skittish with the memory trade.

Listen, we all *want* $IOVA to help lung cancer patients, but these updated data are just bad. Very bad. You could tell as soon as there was no mDOR in the press release (the last PR *did* disclose mDOR - why are they hiding it now?). The slides confirm that the new responses are VERY short. Not good at all. Sure, the ORR went down a little bit, but only by 1%. It is the lack of any durability in the new cut of patients that is the huge problem. The first cut had 4 patients still responding >1 year out - several of them 2-3 years out! Not bad back then - but this new cut has no responders even *close* to that degree of durability. So far, of these new patients, it looks like 1 might have made it past 1 year but has already progressed since then. There are WAY more early progressors in this new cut by my read of the data. Of the new confirmed responses, only 2 appear to be ongoing at ~4 and ~6 months. 4 other responders appear to have all progressed in the ~4-8 month range. VERY poor durability. This looks like 2x as many relapsers in that 4-8 month range compared to the first dataset *with* fewer responders in the new cut overall... There were also 0 new CRs in the new cut. CR rate now <3%. The reason this new trend of very short durability is especially alarming for $IOVA is that this new cut of data uses the less intense LD chemo regimen that the FDA made them use following a death and trial hold earlier on in this study. It looks like the less intense LD they are having to use is leading to markedly worse durability. If you look at mDOR of *just* the new, reduced intensity LD, mDOR is looking like, what? Maybe 6-8ish months? And the overall population certainly looks like it will be <1 year mDOR...the initial datacut was >2 years! Huge drop off looks likely. Again, bummer. We obviously want lung cancer patients to do well. But facts are facts and to me this just doesn't look encouraging relative to what $IOVA had presented before. I know the cult trolls will be after me for pointing out the crash in durability, but whatever. Your cult leader biotechscammer is saying these are the best data ever, like he has done nonstop for 5 years straight. Let's see what reality has to say about that, and how that might inform who these cultists listen to someday.

MRK: we actually hold Tulisokibart data until Temu obefazimod causes cancer.

it is honestly quite baffling to me that openai and anthropic still use slack. i expect this will change within the next six months. they could quite clearly build and maintain internal versions that are *more* secure, robust, and featureful with a team of ~10

Nibbled some $000660.ks $SKHY sub 1.45m here. Am I gonna get to load up at 1.3m again?

Brains were indeed broken.

FWIW hearing from M&A focused banks that there are multiple deals in the works and sounds like a couple of substantial ones could get announced in the near term (weeks). Will hopefully help with sentiment for biotech $XBI $BBC