>How is COLY an example of this program-survival bias thingy?<
Program-survival bias is a shorthand way of saying that the efficacy observed in phase-2 programs that advance to phase-3 is biased on the high side relative to the true efficacy of the drugs in question. Clearly, this turned out to be the case with COLY’s drug.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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