Harry, at the last investor conference, the same investor conference where Varney made the 30-45 day prediction, he also stated a few times that the DMSB would meet at the end of September, leaving many of us to anticipate day-by-day some sort of interim sleep apnea analysis.
But, the decision to postpone this analysis and spell out(literally)his rational for doing so in a selective manner does get to me. First, the conference itself was billed as a time when he might discuss how actual enrollment is doing(instead of avoiding actual completed enrollment(not just the first night batch)is doing. Second, his confidence of an end-stage deal was in place at this conference, so might that meeting have been the appropriate time to tell the investors(not selectively) that the DMSB will occur soon, but NOT give the exact date ie end of month?
On record at the investor call, Varney avoid actual completed enrollment(as Cortex had predicted it would detail 4, 6, 10 whatever), but does tell us the DMSB would examine the data by the end of September, then informs a few posters when and why the DMSB would be delayed(he does this via phone and email to individual investors).
BTW, if you announce you might be closing in an some sort of interim peak at your company's sole clinical program and the DMSB will look at the data by date x, isn't it material then if you have changed your data(especially with a deal closing in, massive dilution waiting and running out of money).
I'm not implying he broke the law, my point is he clearly bungled the sequence of events. Perhaps at the conference call from a few weeks ago(or 30-45 days ago), Varney might have told us he is at end stage negotiations over an important indication, and then tell us that the sleep apnea trial is still enrolling patients... it is a an actual number of ( ? ) at this moment but we want to complete it but will take some more time and we think enrollment will now increase because of these reasons. How's that for a freaking update.