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Hwang et al.[i] completed a study looking at 640 phase 3 trials investigating novel therapies and found that 54% of these projects failed in clinical development; 57% of the failures were due to inadequate drug efficacy. This means that 43% of the projects that failed were due to reasons other than the efficacy of the drug. It is likely that many of these failures were due to operational deficiencies. It is important to consider that a Sponsor’s investment in a trial is not only the investment made for the phase in which the project fails, but all investments from discovery leading up to the failure.