Acquisition InterestSMMT loses a key potential acquirer with Bristol Myers Squibb backing BioNTech, reducing potential acquisition interest from large pharma companies.
Investor ConcernsInvestor feedback points to concerns around the reported PFS HR of 0.52, higher than the 0.46 from the China trial, suggesting ex-China cohorts may have numerically inferior HR.
Survival BenchmarkThe market appeared to punish SMMT for not achieving statistically significant overall survival benefit, despite no other therapy hitting this benchmark.