I'll quote from the abstract of a peer-reviewed 2006 article in BMC Gastroenterology on the suitability of FibroTest as a non-invasive substitute for liver biopsy:
"Liver biopsy is considered as the gold standard for assessing non-alcoholic fatty liver disease (NAFLD) histologic lesions. The aim of this study was to determine the diagnostic utility of non-invasive markers of fibrosis, validated in chronic viral hepatitis and alcoholic liver disease (FibroTest, FT), in patients with NAFLD."
"In patients with NAFLD, FibroTest, a simple and non-invasive quantitative estimate of liver fibrosis reliably predicts advanced fibrosis."
Thus, for GR-MD-02 to reduce FibroTest score is quite significant and promising.
The Phase II trial's evaluation of portal hypertension as a primary endpoint will give a clear indication of the drug's efficacy. Portal hypertensive syndrome appears only in NASH patients with advanced cirrhosis, so if GR-MD-02 can reduce portal hypertension that will clearly indicate efficacy.
That article has actually now been corrected to read that it was not specifically recommended that investors short Galectin, and after the outstanding trial results released today, it's clear that would be a very bad idea indeed!
It is crazy. As of June 30, company was carrying about $200K in debt and $8M in cash. Basically the current share price assigns zero value to the company's science despite the strong results so far.
Absolutely, the decision by AXAS to focus on selling non-core properties in 2013/2014 to pay down debt is looking extremely wise right about now.