Without actually seeing his statement and reading the protocol it would be difficult to say he is lying but to mischaracterize the protocol requirement as an FDA requirement is really stretching the truth. The protocol, approved by the FDA, might say that there will be no public reports until after the test results are in and approved but the FDA has no requirements that the market can't be made aware of study progress, just non-approved study outcomes. Even then companies give updates all the time about their on-going studies.
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