Investor2014, Thx for your response. Still can't get my arms around what constitutes a successful outcome in this 3-arm trial. I have no doubt the 0.5% arm will succeed to demonstrate statistical significance as before. I have doubts the 0.1% arm will do the same in a statistically meaningful way. I would think the headline would then deem the p2b trial a failure.
The 3 arms are: Drug: ADX-102 Ophthalmic Drops (0.5%) Drug: ADX-102 Ophthalmic Drops (0.1%) Drug: Vehicle of ADX-102 Ophthalmic Drops
Mgmt. says...
I don't understand the last line, including: "use [ceiling] as control" - is that the 0.5% dose as control? "...such that there is no doubt that there is any interaction between the vehicle and the allergens used to stimulate the response" - totally missing how this would be proved by inclusion on 0.1%. Outcome of 0.1% should have no bearing on proof that the inactive vehicle has no effect on the allergic conjunctivitis condition. ie. it is immaterial if 0.1% arm statistically succeeds or fails as long as the inert vehicle arm does not outperform it.
I have written IR & Tulipano a note but doubt I'll receive a response.
FYI, I too had a small position but upped it to meaningful size on this downswing on expectation of readout in June/early-July.