{
  "docId": "019dd923-622c-750b-8b96-fcb164354e3e",
  "docSlug": "86ed72671dc5",
  "documentTitle": "PeptiDream, Inc. (4587 JP)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-11-07 00:00:00",
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  "pageNumber": 9,
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  "notes": "The slide uses visual evidence from corporate filings to highlight a discrepancy in drug pipeline reporting.",
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      "kind": "callout",
      "text": "BMS's 2016 annual report showed the PD-L1 inhibitor in its list of pipeline drugs; however, the 2017 annual report omitted the PD-L1 inhibitor.",
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      "kind": "image",
      "text": "Figure E: Entry for the Phase 1 trial of BMS's PDL-1 antagonist peptide",
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      "kind": "image",
      "text": "Figure D: Pipeline Information in BMS Annual Reports 2016 vs 2017 Showing Removal of PD-L1 Inhibitor",
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      "kind": "paragraph",
      "text": "In June 2016, PeptiDream announced that BMS had commenced a Phase 1 clinical trial for the PD-L1 inhibitor. BMS's 2016 annual report showed the PD-L1 inhibitor in its list of pipeline drugs; however, the 2017 annual report omitted the PD-L1 inhibitor. Below is a comparison of the two annual reports.",
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      "kind": "paragraph",
      "text": "In addition, the United States National Library of Medicine's entry for the Phase I trial of the PD-L1 inhibitor shows that the trial concluded in December 2016.",
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      "text": "14 http://contents.xj-storage.jp/xcontents/45870/e1ad69c6/2e65/4bb3/b328/40ed5b780727/20160615140723355s.pdf\n15 https://clinicaltrials.gov/ct2/show/NCT02739373",
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