Analysis of Data I still have my position, although Herbster was smart in being able to accumulate more by selling at the open and buying back later. The trend of selling on news continues.
I disagree that the news was leaked and that is what caused the selling over the last two weeks. A private placement took place at 7 cents and those were free trading shares. To me it looked like they hit the market right away for a quick profit. I can't confirm that, but it is my opinion based on the timing.
The data from this release is disappointing. I was also hoping for stat sig data, and for us to move that much closer to the IND application. Regardless, drug development is a process and they are still moving towards clinical trials with this knowledge.
Last time around these tests were run (April 2011), tumour burden was reduced by 19% and ascites accumulation was reduced by 73%.
This time tumour burden was reduced by 62%, while reducing ascites accumulation by a range between 80 to 88 percent.
The best part of the results is that the PharmaGap compounds reduced ascites much more than the chemo compound (Carboplatin) it was being compared to. PharmaGap reduced ascites by over 80%, while Carboplatin reduced ascites by 42%.
As mentioned in the NR:
"Peritoneal ascites is a significant cause of morbidity in women with ovarian cancer, and is associated with other cancers and gastrointestinal diseases, representing expanded clinical potential"
These results are not binary and the battle moves on.