ph 3 trial fails primary endpoint, page-18

"Top line results of the double blind, placebo controlled, randomised trial showed an eight (8) per cent reduction in exacerbation rates among patients treated with Bronchitol compared with control which was not statistically significant."

Any idea of the p value, assuming it was a long way off 0.05 or it would have been reported. this is obviously very important. Even though is wasn't less than 0.05, if it was close then maybe a more targeted trial could meet this endpoint in terms of exacerbation rates.

Also, still seems to be same problem of converting clinical relevance to statistical significance. During the call Gary mentioned that the clinicians he spoke with regarding these results felt that they were positive. There is no other treatment.

Also, frequently throughout the call Gary said that the data would need more analysis. Why were they in a hurry to release bad results? must have felt the need to halve the share price!

I agree very little to be happy about this morning.