I hope you are right. But your other comments may underestimate the complexity of the interpretation. What if (and I am just making these up) the apnea episodes are reduced by 50% during just the first five hours? By 25%? For three hours? What if there are changes in sleep architecture associated with 'successful' apneic reduction? Does the latter outweigh the former in clinical benefit? This is where you could end up with differences in opinion even amongst SA experts.
Again, I am just trying to depict what questions could arise. Why it would take so long to answer them--I have no idea. I like your hypothesis, but I am not yet ready to surrender my wariness.
Now, considering the comments we got from Varney about when the results would be released, and then no word after almost two months from that date, suggests to me that the SA results were quite strong and these results alone have placed Cortex in an unprecedented bargaining position.
If you can explain how keeping this positive material shielded from the public--to the betterment of a private deal--then maybe others could appreciate your theory. I can't see how strong results would be better handled privately, as opposed to giving individual investors (public) and the free markets a swing at it.
I think if they have to spend this much time fine-tuning the data on a tiny little study that took nearly two years (and at the rate of 1 enrollee per month, mind you), on the contrary, it looks weak and pathetic. But that is just par for the course when summing up this perpetual disappointment.