RE: Starting Phase IIbI usually try not to get involved in these discussions, but come on DP lets keep the hype to a minimum.
First of all they are not starting a Phase 2b. They are starting the second cohort of a Phase 2a dose escalating trial.
Second of all, the results from the Phase 2a are not "good". The only job of the DSMB is to tell you whether there were any obvious toxicities that would indicate a safety issue. Since this is a biologic it is unlikely to have overt toxicities anyway, so you (if you are an investor) are betting on the efficacy endpoint only. That data is 10-12 months away still.
They plan to present safety data in second half of 2011 but that is basically meaningless. The only chance for a pop is for the efficacy data to be positive. We should assume its safe. If it does not show efficacy it is toast.
If you are going to make risky bets, at least know what you are betting on.
PK