Biotech Values

[DewDiligence]

ENTA EDP-938 follow-up: After listening to the CC, I find the (mean) % reductions in viral-load-AUC (primary endpoint) and symptom-score-AUC (secondary endpoint) to be adequate, albeit not spectacular. The trial was powered to detect a mean 70% reduction on both of these endpoints, which the observed data bested by a small margin (73% and 71%, respectively).

More important, Jay Luly (CEO) confirmed on the CC that several patients in the active-drug arms had their RSV viral load reduced to below the level of (PCR) detection within a short time. Data on the viral-load kinetics of each patient will be presented at an unspecified medical conference.

In short, today’s market reaction to the EDP-938 data appears to be unduly negative.