HF Manager Shkreli: Betting His Career that Oncothyreon's Stimuvax Drug has a "0.000% Chance of Working"

Notable medical-based hedge fund manager, Martin Shkreli, is betting his career that Oncothyreon's

Stimuvax drug has a "0.000% chance of working". In his

, Shkreli said "$ONTY and Stimuvax have a 0.000% chance of working. I will quit the biz if I'm wrong. Never been more sure a "drug" was bogus in my life." This comes after JMP Securities' research report this morning, which was pretty bullish on Oncothyreon. JMP concluded the note by raising Oncothyreon's price target to $14 from $8 per share. According to Oncothyreon, Stimuvax is an innovative cancer vaccine designed to induce an immune response to cancer cells that express MUC1, a protein antigen widely expressed on common cancers. MUC1 is over expressed on many cancers such as lung cancer, breast cancer, prostate cancer and colorectal cancer. Stimuvax is thought to work by stimulating the body's immune system to identify and destroy cancer cells expressing MUC1. Stimuvax is being developed by Merck KGaA of Darmstadt, Germany (Merck) under a license agreement with Oncothyreon. Merck is currently conducting two Phase 3 trials of Stimuvax. Currently, shares of Oncothyreon are higher by about 3% higher in pre-market trading, currently at $6.40.