Avid Bioservices Inc (CDMO)

[investingdog]

You explained stat sig well but something needs to be added. The p < 0.05 is really arbitrarily set number, it is 5% or second standard deviation. What that means is that if a drug is approved with p=0.04999 the chance is still about 5% that the drugs really doesn't work and the result of that particular phase 3 was a statistical fluke. We could have set the standard for approval to be first standard deviation, or the third one, or any number in between. So saying that p=0.04999 is stat sig and p=0.05001 is not and sticking strictly to that as a condition for a drug approval is almost ridiculous.