Agree completely. As long as you are highly confident what decisions you will want to make and they are simple (e.g. Dose adjustment or size adjustment) they work well. But they get oversold dramatically.
And of course good ITT effect size always makes things easier - e.g. No need for difficult decisions (difficult to preplan) about protocol changes you can only make using part 1 data. (With strong effect size tuning becomes simpler or non-existent.)
Agree that with enough data you have a much better chance of predicting a few simple protocol changes you might want to make. Suggest that that is fairly rare in practice and when it does happen it means you took more time in ph 1. All a trade - and would fully agree that under the right conditions it can be a useful tool. But not the panacea that oft gets touted. And oft not useful at all (ii.e. If you aren't highly confident you know what decisions you want to make and it is a simple set - e.g. Because you have too little data to have any confidence of potential protocol changes)
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.