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Biotech / Medical : InterMune (nasdaq)ITMN -- Ignore unavailable to you. Want to Upgrade?

To: IRWIN JAMES FRANKEL who wrote (271)	8/8/2002 10:42:15 PM
From: IRWIN JAMES FRANKEL	Read Replies (2) \| Respond to of 508

P values - a dumb question: Attaining a P value of .05 or less is the standard for reaching statistical significance. As I understand it a P=.05 means there is only a 5% chance that the endpoint was not net. Said another way we are 95% certain of the result. So why is P=.05 magic? Say that the IPF Actimmune study came in with a P=.08. Since there is no other treatment for the poor wretches with IPF and we are 92% certain that the drug works, why would it not be approved? Is the 95% statutory? Can the FDA approve with less certain P values? It seem obvious that if I had IPF and I could take steroids that everyone agrees will not work OR a drug that was only 92% likely to work, the decision would be easy. Anyone know? Thanks ij