Biotech investors can typically process positive and negative
clinical trial results, but when the data are mixed and/or there are no
simple conclusions it becomes more difficult to price the risk. I
believe that is at least part of what's going on with Conatus Pharmaceuticals (NASDAQ:CNAT)
in the wake of its confusing, and ultimately disappointing, Phase II
trial data on emricasan in acute-on-chronic liver failure (or ACLF).
I
think it's too early to say that emricasan is an ineffective drug and
unworthy of further clinical development. The highest dose of the drug
did suggest a benefit and it is worth the company's time to further
refine the dosing and trial design. Unfortunately, the issues with trial
enrollment and completion raise pertinent questions about the
difficulty of future ACLF studies and whether management can find a
clinical pathway to get this drug to market.
Continue here:
Trial Data Add Little Clarity And Much Confusion To Conatus
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