NanoViricides Inc. (NNVC)

[JG36]

First, I have a correction to make. I got my $26,000 number from a tertiary source that misquoted the original paper. Here is the original paper:

"Clinical Operations: Accelerating Trials, Allocating Resources &
Measuring Performance"
Cutting Edge Information, September 2006, 182 pages

Unfortunately that paper does not seem to be available on the internet. This is not surprising, given that it is copyrighted material that apparently costs $6995. Here is a review/summary of that paper:

http://firstclinical.com/journal/2006/0612_Clinical_Operations.pdf

According to that review, it is *Phase II* trials that have an average per subject cost of $26,050. The average per subject cost of Phase III trials is a mere $19,320. From the review:

"Per-subject costs vary substantially by therapeutic area, in Phase III ranging from $15,000 for analgesia and rheumatology studies to $42,000 for CNS and psychiatry studies."

So you and Puffer are assuming that the per subject cost of Phase III trials for Flucide will be a mere 40% of the average of the cheapest type of study covered in that paper. *Could* they be done that cheaply? Maybe. Do I see this as a high probability outcome? No.