Neurochem says it may disclose results of its late-stage trial this month.

The company, he said, is expecting results of two additional late-stage trials in the next three months.

Just getting to late-stage trials is no guarantee of success.

The company is conducting late-stage trials on both applications.

Even in late-stage trials, about half of all drugs fail, often because they do not prove better than existing treatments.

The drug is being tested on Alzheimer's disease patients in a late-stage clinical trial and, if all goes well, it could reach the market by 2004.

In addition, analysts point out, several companies are about to announce the results of late-stage clinical trials on products with blockbuster potential.

It recently began late-stage trials to treat multiple myeloma, a blood cancer.

"We do have over 300 products in late-stage clinical trials and a lot of those will pan out," he said.

Two other late-stage trials will be finished in mid-2011.