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  "notes": "The slide uses a critical tone to challenge the company's narrative regarding the efficacy of PC14586.",
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      "text": "Median survival for a sub-therapeutic dose of PC14586 combined with anti-PD-1 treatment exceeded 156 days, compared with median survival of 24 days for anti-PD-1 treatment alone",
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      "text": "We would also point out that for the FDA to approve this drug, PMV will need to show that it can be efficacious in humans as a monotherapy at tolerable doses.",
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      "text": "As in the previous slide, the data is for the median of a group of ten mice, and we are not told the specific models used. What concerns us most is the lack of response for the 50 mg/kg dose. This indicates the drug lacks potency until it gets up to high doses.",
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      "text": "As far as the impressive efficacy of the combination, we are not told anything about the rationale for this mechanism. The company does not say why reactivating p53 results in “turning cold tumors hot” (enhancing immunotherapy), nor do they say anything about the potential toxicity. This lack of tumor growth is not necessarily from on-target synergistic effects and could be associated with overt toxicity.",
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      "text": "Another slide shows us their leading drug candidate’s synergy with anti-PD-1. This model is described as a “cold tumor” model, meaning immunotherapy is not expected to show activity, so response from anti-PD-1 is not expected.",
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      "text": "PMV’s Synergistic Tests Indicate Its Leading Candidate Is Ineffective at Low Doses",
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