This time, Osiris' experimental Prochymal therapy failed to slow the progression of Type 1 diabetes compared to a placebo after one year of treatment.
Osiris never likes to acknowledge Prochymal's many failures and Tuesday's announcement of the diabetes trial result is no different. The company buried the study's disappointing data in its press release: "No significant differences in the rates of disease progression, as measured by stimulated C-peptide levels at the one year time point, have been observed."Prochymal's side effect profile was apparently as benign as placebo, which makes sense since Prochymal -- a stew of off-the-shelf adult stem cells that gets injected into patients -- has proven to be nothing more than a placebo. Osiris notes a "trend" towards fewer incidences of low blood sugar reported by Prochymal-treated patients compared to those treated with a placebo at one year. What Osiris doesn't say is that having something vaguely positive to report about one of six secondary endpoints matters not at all when the study's primary endpoint fails. Efforts by Osiris to convince regulators in Canada to approve Prochymal in graft-versus-host disease appear stalled and the company has said nothing recently about moving forward with a U.S. approval filing for the same indication. Osiris finds it easier apparently to bamboozle retail investors about failed stem-cell therapies than regulators. --Written by Adam Feuerstein in Boston.
>To contact the writer of this article, click here: Adam Feuerstein. >To follow the writer on Twitter, go to http://twitter.com/adamfeuerstein. >To submit a news tip, send an email to: firstname.lastname@example.org. Follow TheStreet on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV