>>MBRX off 56% on bad news for two drugs: CS-917 and Pradefovir. For those who were paying attention, however, Pradefovir was already a lost cause (#msg-19364199), so the new news today is limited to CS-917.<<
Unfortunately, the news is not limited to CS-917. There is a follow-on compound to CS-917, and it's likely in trouble as well, as it's in the same class, with same MOA. Remains to be seen if potency or something is better in a clinically relevant sense. However, management was calling these P2b results for CS-917 "proof of concept" for the follow-on.
For those who like to invest after blowups, take your time. It is unlikely that there will be news for MBRX that could bump its share price any time soon. In the coming weeks, Daichii will look at the data, as the PR says. I think they will then walk. Who cares if the patient population had low baseline levels of glucose and HbA1c? Metformin whipped CS-917, and it would be a stretch to imagine that a trial with patients exhibiting higher baseline levels of these markers would allow CS-917 to beat it. And even so, wouldn't that be narrowing the market? Would the FDA let them run such a trial? Why were patients with low baseline markers allowed in the first place?
"We have many unanswered questions at this point."
Indeed. Like: "Did you tell investors the patient population was going to be different in the 2b?"
I'll have to go look at the protocol, and check versus the 2a . . .
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