Spherix, Inc. (SPEX) announced that it was shifting focus on the company s phase III candidate from type-2 diabetes to triglyceride lowering. This may come as a surprise to some Spherix investors; however, the strategy move makes sense to us considering the bar moved significant higher for approval of new type-2 diabetes drugs following the new FDA guidelines on cardiovascular safety established in March 2008.
This was after Spherix has already designed the current phase III protocol. The new path to market for triglycerides will be cheaper and quicker for the company. In the meantime, Spherix will look to partner D-tagatose for type-2 diabetes with a larger pharmaceutical organization. This partnership becomes more likely after the phase III NEET data is released later this summer. Zacks Investment Research
