Stockwatch: Dyax's missing no-effect dose
This article was originally published in Scrip
Executive Summary
On a day in a week when biotechnology stocks resumed their rout, Dyax's release of "positive" Phase Ib data was a high point in an otherwise bruising period for investors. A closer look at the data, however, suggests that the most important data points are significantly 'off-message' from Dyax's positive bravado.