Expected timeline for data readout:
During the âWhat This Meansâ segment Dr. RichardâŻKenney indicated that the expanded PhaseâŻ2/3 SBâ221 trial in platinumâresistant ovarian cancer will generate its first readâout of efficacy and safety data by the third quarter of 2024, with a more comprehensive data package expected to be delivered to the FDA by the end of 2024. The company has aligned its reporting schedule with its upcoming 2024â2025 corporate milestones, so investors can expect a formal data release in Q3âŻ2024 followed by a full regulatory submission package by yearâend.
Trading implications:
The Q3â2024 data readout creates a nearâterm catalyst that could drive significant price movement. With the readâout date now in view, the stock is likely to trade in a tight range leading up to the release, as traders position for the outcome. If the data confirm a clinically meaningful response (e.g., â„15âŻ% overall response rate in a heavily preâtreated population), the stock could see a 10â20âŻ% upside on the announcement, especially given the modest 30âpoint sentiment rating which suggests the market has not fully priced in the potential upside. Conversely, a neutral or negative readâout could trigger a 15â30âŻ% downside as investors reâprice the clinical risk.
Actionable insight:
- Current position: Given the timeline, consider a smallâtoâmoderate long position or buyâonâdip strategy now, with a stop loss near the recent low (â $0.70â$0.75) to protect against a negative readâout.
- Shortâterm trade: If the stock has already priced in some optimism, a shortâterm sellâonâtheânews trade after the Q3 2024 data release could capture the reaction.
- Watch for: Any interim updates (e.g., interim efficacy data, FDA interaction notes, or competitor trial results) that could shift expectations before the Q3 readâout. Maintaining a watchlist for peer companies in the ovarianâcancer space (e.g., GSK, AstraZeneca) will help gauge relative valuation and potential spillâover effects.