Biotech Values

[DewDiligence]

POTP is down 33% today. I don’t know a lot
about this company, but the general style of
their investor communications and other
actions suggested to me that it was a loser.

The company’s own PR today
(http://biz.yahoo.com/bw/070301/20070301005460.html?.v=1 )
tries to bury the cancer-trial failure deep in the PR
and makes no mention of it in the headline. Lame.

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070301:MTFH43075_2...

>>
Point Therapeutics Says Cancer Study Fails

Thu Mar 1, 2007 8:33 AM ET

March 1 (Reuters) - Point Therapeutics Inc. <POTP> said mid-stage trials of its experimental pancreatic cancer drug will not meet the main target of six-month survival.

The company said it will continue to monitor patients for tumor response as well as other secondary goals, which include overall survival, progression-free survival, quality of life, and performance status.

The study will be completed and final results of the trials on patients with Stage IV pancreatic cancer who had not received prior chemotherapy are expected in mid-year 2007, it said.
I
In January, Point had said the trial showed promise with ten of the 21 patients surviving more than six months.

The company also said enrollment in its late-stage study of non-small cell lung cancer, evaluating talabostat and docetaxel, is currently behind its original schedule. The study was intended to enroll about 400 patients, with an estimated 200 patients per treatment arm. The company said it was evaluating various options including initiatives to speed the rate of enrollment and potentially restructuring the trial by downsizing the total number of patients enrolled in the trial.
<<