Research analyst, medium-term horizon, biotech, small-cap

ICo's IDEAL Trial Fails, What's Left For Investors?

On June 9, 2014, iCo Therapeutics Inc. (OTCQB:ICOTF) announced top-line results from the iCo-007 Phase 2 iDEAL study in patients with diabetic macular edema (DME). Results look like a complete failure, not only of the efficacy of iCo-007, but also the active control in ranibizumab (Lucentis®). From these initial data, one can only conclude that iCo-007 has no clinical utility or commercial potential. The company will continue to follow patients through 12 months of treatment and plans to present and publish the full data later in 2014. At that time, subset analysis of VEGF-refractory patients may show a niche commercial market for the drug if iCo-007 was helping patients that previously failed drugs such as Lucentis® or Eylea®

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