Vascular Biogenics Ltd (VBLT)

[Pyrrhonian]

Unfortunately not. For a number of reasons, like small sample size, lack of randomized control arm, etc. But especially because the P3 just completely failed primary and secondary endpoints.

And actually the NSCLC study isn’t registered yet at CT.gov, so not sure when that’s even starting. When it does, it will take years to get to the primary endpoint (100 subjects).

http://ir.vblrx.com/static-files/e89af44e-d456-459e-81ac-6e2e9462d6af

I think their burn rate will go up too if they try to enroll both that and the ovarian study concurrently. Prob closer to $14 mil/quarter. Which means they will probably have to dilute again later this year.

Also on the NSCLC study, in their presentation they will enroll and treat 12 subjects in a safety portion first. I guess they will report these data late this year if they have it, but it’s not going to move the market imo. Again, at this point with the attractive-looking rGBM P1/2 data failing to follow in their P3, all non randomized data with VB-111 is going to be ignored moving forward. The market will be in a “show me first” stance. That’s why I think they are heading for trading at or below cash within a month ($1.15-$1.50/share).

GL