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Biotech Stock Mailbag: Spectrum Pharma

What makes this setback funny is that Aspen assured investors that it had designed the AppyScore clinical trial to specifically avoid such data collection problems. Remember, Aspen blamed disappointing results from a previous AppyScore study in part on poor data collection and patients lost to follow up.

Perhaps, AspenBio needs to come up with a new excuse for why AppyScore under-performs.

Unfortunately, Joe, I don't have a good guess for the length of this delay. My gut tells me that the AppyScore results, when they do emerge, will not be strong enough to turn AppyScore into a compelling commercial diagnostic product. That's been my stance on AspenBio for awhile now and last week's news only reinforces my bearish sentiment.

More on Biotech
13 Drugs Facing FDA Approval Decisions

I'm on vacation all next week. Mailbag will return on July 2.

-- Reported by Adam Feuerstein in Boston.

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Adam Feuerstein writes regularly for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.
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