What was particularly interesting about that news (the extraordinarily low toxicity) is that many read this exceedingly good news and managed to interpret it as negative due to focusing only on the slight delay it would entail, an utterly trivial consideration in comparison to the huge implications of the low toxicity:
1)it means that side effects a not going to be a problem. Most drugs that fail do so due to unacceptable side effects.
2) it means that the drug is far more likely to achieve efficacy: for most drugs, side effects limit the therapeutic dose to one lower than what would otherwise probably achieve maximal therapeutic effect, resulting in lower efficacy and often making it impossible to achieve therapeutic efficacy at all so you get a drug that would probably be effective IF you could take a high enough dose except you can't because of side effects. With no toxicity, NNVC should be able to put the dose as high as it needs to be to achieve FULL efficacy.
3) it means that the drug means one of the criteria for an FDA fast track which could greatly shorten clinical trials.
4) it makes getting an early approval far more likely which would further shorten clinical trials.
And all that at the trival costs of a few more months required to make the larger amounts of drug required to do toxicity tests! AND that extra time will likely be more than compensated for by the time savings of fast track and/or early approval!
That some managed nevertheless to see that as a negative shows how deeply flawed investors' analysis can sometimes be.
I strongly suspect that 1) the data gathering toxicology tests are already underway and 2) that it was preliminary results from that (not yet complete enough to PR) that led to the decision to raise more cash: with the safety of the technology (unofficially) confirmed it would make sense to move forward at maximum speed on a large number of drug targets. Had any problem been encountered, the appropriate reaction would have instead been to slow down or suspend work on all but the most promising candidate (and maybe that one as well) til the problem was identified and solved.
I would interpret Dr Diwan's statement that NNVC is "awaiting the results" as meaning that the tests have already been done and they are waiting for the analysis to be completed.
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