Biotech Values

[DewDiligence]

Re: Musings on OXGN’s programs in ophthalmology:

At the Lehman conference today, OXGN’s CEO said the company has a goal to start a large AMD trial. However, the enrollment target in the current phase-1/2 AMD trial keeps slipping.

When the current AMD trial was announced in a press release on 7/02/03, the enrollment target was 20 patients. More recently, the enrollment target had slipped to 15-20 patients, according to statements by OXGN’s management. Today, OXGN’s CEO said the enrollment target is only 15 patients.

Why does the enrollment target in this trial keep slipping?

Given the anemic enrollment rate in OXGN’s current AMD trial, I find it hard to believe that a large AMD trial with a similar treatment regimen will ever get off the ground. JMHO