Implicit in the drug-approval process is a host of decisions---target patient population, control group, primary endpoint, sample size, follow-up period, etc.---all of which determine the trade-off between Type I and Type II error. We explore the application of Bayesian decision analysis (BDA)...

Current business models have struggled to support early-stage drug development. In this paper, we study an alternative financing model, the mega-fund structure, to fund drug discovery. We extend the framework proposed in previous studies to account for correlation between phase transitions in...