TOCA - Tocagen: An Undeserved Selloff
Did the Market Overreact to Tocagen’s Recent Announcement?
Tocagen finished enrolling patients for its recurrent high grade glioma (HGG) clinical trial in November of 2018 and has been conducting this Phase 3 trial ever since. On May 21, Tocagen announced that an Independent Data Monitoring Committee (IDMC) had conducted its planned interim analysis of the trial, and recommended that Tocagen continue without modification. This seemed like good news, especially considering the company’s stock went on a month-long 59% rally the last time it made this announcement. As an analyst at an event-based