Biotech Values

[daved]

Great news for Genvec. In exchange for changing the trial from 1 year survival to overall survival Genvec got a promise of early approval if interim data proved conclusive and a very minor statistical burden for those interim looks. Early interim data reported last March indicated 42% absolute gain in overall survival in the TNFerade arm vs. SOC. The endpoint hoped for 20%.

That was 51 patients. With an interim look at the first 92 or 96 patients, stat sig seems to me like a given.

This could be an approved drug in 2009.

Management's decision to throw the bucks and effort at this program at the expense of other promising programs is herewith justified.

Dave

Dave