Biogen steroids legit

$EXEL
http:///press-release/bristolmyers/bristol-myers-squibb-announces-top-line-results-checkmate-026-phase-3-stu
Thoughts:
1) BMY will look at EXEL more closely for combinations due to their 1L failure in lung cancer using Opdivo. RCC, and Lung are two top markets for IO drugs and Exelixis presumably works in both. There was a mention of potential in lung cancer combination trial during the earnings call.
2) Japan deal could be made now that earnings are out, they might be asking for more money due to Cabosun now being pursued for FDA approval for 1L RCC albeit confidentially.
3) After Japanese deal, and Ipsen European payment Exelixis might have a larger sum of money to pay down the convertible debt in cash and stock combination.
4) Potential bidding war for Exelixis between BMY, Pfizer, and Roche.

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