Inhibition of Kras dominated Esmo, though probably not in the way some had hoped.
But the main question for deal-hungry investors will be what this means for the chances of Merck & Co buying out Seagen.
Second-quarter share price movements give another glimpse of the dire state of the markets, but there might be reasons for optimism.
M&A is back on the menu, but there are still reasons to be cautious.
Seagen is vulnerable to takeover, but whether a deal happens – and at what price – depends on at least one catalyst.