I have to say I agree with the poster who said a lot of...

I have to say I agree with the poster who said a lot of investors in the company didn't understand the result.

To make it clear, this is a good but not outstanding result.

It acheived the primary endpoint of safety in humans, so its is successful. If patients had suffered adverse reactions, the program would have been over.

The small number of patients in the trial meant that it would have been extremely difficult to produce a statistically significant outcome unless the efficacy of the treatment was dramatic. Given that no-one knew whether the vaccine was safe or had much idea on the best dose to give, that was unlikely. To start a safety trial you would give a relatively small dose initially, thats common sense.

So we have learned that cohort 1 had the best response so that is likely how the phase 2 trial patients will get their vaccination, at different sites. They will also have an escalating dose to find out if increasing the dose improves efficacy. The number of patients will be increased as for the phase 2 trial they will be looking for statistically significant efficacy data. If they find it they will then choose the optimum dose for a larger phase 3 trial of maybe a few hundred patients to find the true safety and efficacy statistics.

Overall then, a good result. For people hoping to hit the bulls eye first shot, that almost never happens in medical research. But it is on target, and I don't think you should be disappointed. We should now be cleared to go on to the phase 2 tial to find out the best dose to give. Its a logical trial program that everyone has to follow. Be patient.