Ann: Update to Interim Phase III Results for PI-88, page-21

From 27/9/12
"The PATRON trial is designed to confirm the efficacy and safety of PI-88 in the adjuvant
treatment of HCC after surgical resection and is a randomised, placebo-controlled,
multinational trial. Disease-free survival is employed as the primary endpoint for efficacy
assessment."

From 28/7/14
"The results have indicated that PI-88 has a good
safety profile, and that based on recurrent data from each individual clinical trial centre, PI-
88 did not meet the primary endpoint of Disease Free Survival."

There do not appear to be any goalposts that have moved. However I guess the point of today's note is to imply that there still may be data that arises that could keep the flame alive. This is especially the case if they find a factor that explains the failure of the primary endpoint. Say if all the failures had diabetes or lupus or cirrhosis, or were of one gender etc etc. Also it is possible that it could be a great drug if the other 3 of the following are proven to be efficacious:
1. Disease Free Survival;
2. Time To Recurrence;
3. Tumour Recurrence Rate; and
4. Overall Survival.

There are many treatments that are not cures, but that keep you going for a long time - many HIV treatments are like this for example. Not everybody survives on the treatment, but the ones that do make it very worthwhile.

I agree that it is annoying that they have not clarified whether it is possible or not for P to hit 0.04148 today. Why not say that they believe that it is still possible to meet the endpoint, rather than implying this? (but if written by a spin doctor - then the intent of this implication could very well be to do evil). I have decided to assume that they will not meet the primary endpoint no matter what, and that it is spin to increase the SP. Any spin, and I assume the very worst every time.

Good luck - I was tempted to buy this dip - but will pass tbh.