At this earlier stage, how do they know which one to back...If I go onto Clinical. gov and search for trials with OA...there comes back with some 26 pages full of candidates, yeah some are terminated ....some are older...but I wouldn't know which one to back? Which one is real. Which Phase 2 was great...and will lead into a devcent Phase 3?
Who has hundreds of analysts that can just sort thru it all, interview management, talk to patients, go thru data, hold meetings for every candidate and whittle it down? Nah better to just wait for the FDA to naturally vet them out.
This will happen anyway at interim if we pass...then they can do more DD and start a decent chat.
BP specially in OA are tending to leave it later than earlier...too many failures. Yes it's a small fraction of their funds deployable...but again, which one to back?
Maybe there are other considerations but I think that's one of the main ones.
My thoughts.
PAR Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
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