Shares have risen quite a bit as a result of ARIEL3 data.
The upsized secondary offering has taken dilution risk off the table until later in 2018.
Wall Street's negative reaction to Bristol-Myers Squibb collaboration appears overdone, as the takeout thesis still appears on the table.
Valuation gap to Tesaro is quite striking.
Near-term pressure on shares could be a gift for investors with a longer-term time frame.