BNO - Good Profits Ahead, page-14

BNC210 did unfortunately fail to reach its primary endpoint in the PTSD trial.

BNC210 still has the potential to show positive results in the agitation trial as that is more in line with the positive results BNC210 showed in the previous Phase 2 GAD (anxiety) trial in 2016.

Also Merck continues to develop BNC375 under license for Alzheimer & Cognition.

PTSD is over for BNC210 but as the agitation trial results (read out early 2019) and the potential for Merck to take BNC375 into a Phase 2 program early next year (which will trigger a large milestone payment) may surprise us all as did the positive Phase 2 GAD Trial results did in 2016.