Primary efficacy endpoints
The press release announcing the Tigris trial results does ** not provide the specific clinical endpoints** that were prespecified for the Phaseâ3 study of PolymyxinâŻB hemoadsorption (PMX) in adult patients with endâtoxic septic shock. In typical lateâstage sepsis trials, the primary efficacy endpoints are usually (i) 28âday allâcause mortality (or mortality at a comparable time point) and (ii) a composite clinicalâstatus measure (e.g., SOFAâscore reduction or ventilatorâfree days). Because the summary you provided only mentions âtopâline resultsâ and does not list the actual endpoints or the statistical outcomes, we cannot confirm which metrics were formally designated as primary, nor can we definitively state whether they were met.
Trading implications
The lack of concrete efficacy data in the announcement creates a shortâterm information gap. Until the full clinicalâtrial report (or a detailed press release) is released, the market will likely price in a range of outcomes: a positive readâout (e.g., statistically significant mortality reduction) would be a catalyst for a sharp upside in Spectral (TSX:âŻEDT) and potentially for Vantive, while a neutral or negative readâout could trigger a sellâoff, especially given the high expectations for a Phaseâ3 sepsisâtherapy candidate. In the meantime, the stockâs technical profile shows a modest upâtrend on volumeâweighted price action over the past month, but the price is still trading below the 20âday moving average, suggesting that investors are awaiting concrete data before committing. Traders should monitor the forthcoming detailed results (likely to be filed with the FDA/Health Canada or released via a full press release) within the next 7â10âŻdays. A breakout above the recent resistance level (ââŻCADâŻ0.55) on confirmed positive efficacy data would be a highâprobability entry, with a stopâloss just below the 20âday EMA to limit downside if the data are less favorable than expected.