Ann: IMU Meets Endpoints in Phase 1b Gastric Cancer Trial, page-104

I suspect some here are getting a little too caught up in semantics. The reality is these patients all have advanced Gastric Cancer for which there are very limited treatment options, ie they have exhausted all other options. One of the exclusion criteria is any chemotherapy in the preceding 3 months which is likely to be because there are no remaining treatment options. The reality is that a large number of the evaluable patients showed reduction in tumour size, a similar number showed "stable disease" which could mean anything from increase in tumour of 20% to a reduction in tumour of 29%. These types of response rates are I suspect very good when one considers the cohort of patients being studied. The discrepancy in numbers of patients is also understandable again given the patient's likely situation, maybe they couldn't attend for their evaluations on the due date, maybe they were quite unwell at the time. I suspect it doesn't mean the numbers have been fudged. It also means all patents are still alive at 56 days (8 weeks). Which again for a cohort of patients with no other treatment options is quite encouraging.

A Cochrane review of treatment of advanced gastric cancer suggests median survival of 6.7 months for HER-2 positive patients treated with CIS/Fluoropyridamine+stratuzumab chemotherapy, adding a further agent irinetocan improves survival by 1.6 months albeit at increased toxicity. So these patient have already run that gauntlet and haven't improved (ergo by definition they have resistant disease). So 56 days/2 months and counting is comparatively good I suspect.

Regarding the share price activity since the announcement I suspect this as others have commented reflects overall risk aversion in the market.

I suspect it also reflects that Mr Market doesn't know much about immunobiology of tumour oncology, and doesn't care a damn about what anyone paid for their shares.

All of this is opportunity for others to use knowledge and information. Nothing in the announcements suggests anything other than the treatment is proceeding according to what the science predicts. My sense is the results are overall very encouraging. Also the company is in a financial position to fund the phase 2 trial without raising further capital.

All personal opinion only all of the above is in the public domain but DYOR!

Cheers K