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gfp927z

08/31/05 11:10 AM

#211 RE: Aiming4 #210

Aiming, One lesson from the PARS experience is to never put a large amount of faith in a small Phase 2 study, and PTIE's IBS study wasn't even a Phase 2 but only a self described "pilot study" of 50 patients. And it was open label to boot, which would tend to maximize the already high placebo effect, since there was no doubt in the patient's minds that they were getting the active drug. There was a reported 76% response rate (this figure was based on only 42 patients however). What we need to find out is what the placebo response rate has been for other IBS trials (we know it's high, but how high?). Even if the typical placebo response rate turns out to be in the 50% range however, we still can't trust the 76% PTI-901 figure as being reproduceable in the Phase 3. In my mind, there's no way to justify placing a sizeable bet on PTIE based on the IBS indication. If the IBS results are inconclusive or outright bad however, which is quite possible, then it could provide a good buying opportunity if one believes in Remoxy and/or Oxytrex.