Could be for spin purposes. Given this, though, I'd say likely not a complete failure. Otherwise, don't think they would have the lead investigator on the call. I'd wager data either mixed or positive.
I am purely speculating from timing of the PR (today) and how the market typically interprets such news release. If indeed positive, they would have said so in today's PR with further details to be shared on the CC. Hardly any biotech I know that doesn't want to capitalize on a positive development prior to market open.