Well the market has spoken... down a whopping 60% on big...

Well the market has spoken... down a whopping 60% on big turnover.

I certainly wouldn't have expected that given the viral load figures!

The trial design was around immunological response. I wonder what the market would have thought if the primary endpoint was reduction in viral load after 1 week! The market would have seen ART Naiive patients have a 1.49Log reduction in viral load with p-value of 0.0001 (now that's a p-value you don't see everyday!)

What is disappointing is that this reduction wasn't maintained over the duration of the study to the same extent. VHL said in their release:

"The Company is reviewing and further evaluating the trial results, and will further update shareholders in due course."

What does this mean? Well I'm hoping they look very closely at the patients that did have a sustained benefit (if any), and what those patients have in common. We know from the Ib trial that some patients remained off ART for very long periods, I believe over a year at least.



It would be great to know if VHL still monitor these patients from the Ib trial, and can give us an idea if they are still off ART.

A write up in peer review journal would be great, but it's a long way off.

The 1.49Log reduction is very exciting. But we need to know more. Given there was monthly dosing, why wasn't their a sustained benefit? Can the treatment be tweaked to sustain treatment?

There are many questions at the moment, and the market has spoken loud and clear. I'm greatly looking forward to a more in depth analysis, and this could take weeks or many months. Let's get the academics looking at this one in detail. I'd love to see the underlying data as well, but this isn't realistic.

Would be useful to hear from the company on BRR.com or similar. Primary and secondary endpoints a failure, why? Was it due to different clades? If so, why on earth could they get a whopping 1.49Log reduction in load after a week!?!?!?!??

There is just no way I'll be selling at these prices. If they didn't get a viral load response then sure, but they did.

And we also hear this:

"is in advanced discussions with a large international immunotherapeutic company regarding a significant clinical program that has the potential to add significant value for shareholders."

Okay. Who is this company, and what kind of clinical program. I hope it's for VIR201 along with pushing the platform in other areas. A license deal could do wonders for the price.

Short term, until we know more, my fear is that this will become very illiquid once again, and they'll struggle to raise funds. I for one cannot buy more (unless I win the lotto), but I'll be holding.

Two steps back...

Sigh...