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I certainly agree that .05 is an arbitrary number.
But P value does not imply the probability that the drug does not work. It is the probability that a placebo could have duplicated the results.
Thought experiment:
Grab a random stranger in the US and ask them to flip a coin 5 times. If it comes up heads all time, would you really think it is probably 2 headed, or would you think it is luck?
Repeat the same experiment on Mars, would you be more likley to suspect the coin had 2 heads?
The chance that the drug works or not is a Baysian number, and the FDA stat boys are frequentists so will not even discuss this.
RE: The dust is lifting
I generally agree with your post, I was really disputing the overall tone of CPs post (I had to post the first one quickly because I somehow hit submit as soon as I posted the title).
I suspect the OS endpoint on pancreatic was chosen so as to have a moonshot on approval if it hit stat sig. But it is always hard to be stat sig of OS in a trial of this size.
The published numbers on the trial really were not bad. Hell, let me rewrite the PR:
"Unfortunately the trial was not able to be statiscally significsnt on the overall survival endpoint, but it did show a solid trend with HR=.75 (P=.12). Additionally the key pre-specified secondary of ORR was nearly double that of the SOC arm".
I would be quite satisfied with such results. As a matter of fact, a bio I own had almost exactly such and the drug is being taken into P3 trials.
The most negative item in the PR was the last paragraph were PPHM makes clear they fo not have a direct path to P3 based on this trial.
Statistical Relevance and the cowboy stories.
Yeah, right.
If the pancreatic trial had hit stat sig on OS it would have been screamed out loud and clear.
They did provide P vabues on the Sep data for second line NSCLC as they were under .05 on 1mg and combined.
They failed to provide it for this trial becuase it was not good.
FTM, a question for you.
Do you suspect that the delayed effect is "the" issue that is responsible for lack of a clear win in P2 trials?
If so, seams like kind of a bitch of a problem. Generally smaller biotechs are forced to run trials in sicker populations for cash reasons. But if one presumes a drug that is delayed and/or acts against smaller tumour masses, then these are the worst trials to run.
So how to break out of the trap?
Actually, the OS HR of .75 is not bad at all for a point value. Obviously not stat sig (as the PR would have been loud and clear), but still a decent trend.
Kind of a disconnect between the HR and the medien. That's small N for you. Is it a few outliers driving HR, or bad luck on the medien? Who knows. But the subset comment would tend to suggest outliers, a few long lived patients driving HR but having little effect on medien.
Be interesting to see what the full curve looks like.
I wouldn't put much faith in that ORR doubling w/o further data. It is presumably investogator readings from an open lable trial, and is potentially cherry picked (why ORR and not PFS?).
All said, PPHM is looking at the entirety of the data and it sounds like they will not go forward as is, but need a subset/biomarker and/or alternate combos.
Perhaps another case of the real world not being black or white.
ELN, perhaps they could pull off a PLDI type splitup of the royality flow from the "whatever".
Should be easy to calculate what the royality stream (unecumbered by any non-trivial expenses) should price at.
R: Malware warnings
If this is something that 'scans" your computer and claims it might be infected, then the warning very likely IS the malware. Buy their crapware, and it "fixes" the issue.
This scam has been around for a few years, and every once in a while gets a more effetive vector.
ARRY/AZN Selumetinib CEO comments
One should inlcude the context of the blurb that was quoted.
The question he was answering was "are there a couple of top candidates?":
That is Opaxio, somebody got the tm(trademark) mashed in with the name.
This is a "next gen" taxane that was designed to avoid the need for the cremaphore solvent (same concept as Abraxane and at least one other). It failed a few P3s years ago, the had another p3 halted for safety (grade 5 AEs). It was Zyotax then, the rebranding was to conceal the bleak history?
Anyway, the GOG trial has been running forever (per clinicaltrials.gov it is still recruiting with an estimated primary completion date of 4/2008). Further, this was a 3 arm trial (Opaxio/placlitaxol/placebo) orriginally planned with about 1600 patients but had the target cut to 2/3 of planned. Along with a news blurb from a few years ago, it sounds like the taxane arms have been merged (perhaps allowing the docs to choose not to use Zyotax so patients might enroll?).
The drug is dead. The company exists for entertainment purposes only.
Re PPHM $75,000 demand
It was stated by somebody (I beleive North the lawyer) that this is the minimun figure to allow for the case to be tried in Fed courts. So it is common to use it as a "placeholder" that can trivially easily be justified in pre-trial motions but will later be replaced by the true number when known.
I would be curious about the hypothetical question of true damages if the case proves. Ok, the clinical trial damages are easy, but how the hell does one assign a value to the clinical delay on something that could be either salt water or the fountain of youth (depending on who you listen to).
BTW, the more interesting question on this suit was why the claim was submitted that fast. To support the ATM?
Dr Rocker, I certainly agree that the pancreatic OS data could be a game changer. So yes to that question.
On the other question, about the trial looking good because the data release is delayed. I disagree for 2 reasons.
A) Many investors have seen this logic fail them as the control arm performed better than expected.
B) What I hear PPHM say about the data release is "it is event driven". I take this to mean that the trial plan has some defined point at which the promary emdpoint will be evaluated, I see no reason for this to mean when mos on both arms has been "reached". Yes, they answered questions about releasing the mos number by saying they will do so when they have it, but that could well be in context of the primary event driven data.
BTW, thank you (and others) for allowing me to speak contrarily w/o being slammed.