New Industry Phase 3 Trials Registered (Monthly)

## What this measures

The number of phase 3 drug and biologic trials led by companies (pharma, biotech and other industry sponsors) newly registered on ClinicalTrials.gov each month, worldwide. A trial is counted at its highest phase: a phase 2/3 trial counts as phase 3.

## Why it matters

Phase 3 is the large, expensive trial that comes before an approval filing. New phase 3 trials are a read on the approvals and launches of the next two to four years, and on how much late-stage risk the industry is willing to fund.

## How to read it

Higher means more new company-led phase 3 trials. Months vary with holidays and with batches of registrations; compare a month with the same month a year earlier or read the 12-month total.

## What it does not say

A registration is a plan, not a result: some registered trials never start, and size, cost and odds of success differ widely. Being listed does not mean a study was reviewed by the U.S. government.

## How it's built

Interventional studies whose lead sponsor ClinicalTrials.gov classes as industry and whose phases include phase 3. Each record is dated by the month ClinicalTrials.gov first posted it, a date that never changes. Registration is the timely measure of new trials: U.S. law and journal editors require a trial to be registered by the time it starts enrolling, and most register before. The trial's actual start date is filled in later, over six to twelve months, so a count by start month undercounts every recent month. Records are read in full from the API each week; the last three months are rewritten. History from January 2010.

## Source

ClinicalTrials.gov (U.S. National Library of Medicine), API v2, refreshed weekly by /api/cron/clinicaltrials-pipeline-sync. Palanor counts and classifies the records as described above; it does not change them. ClinicalTrials.gov disclaimer: the U.S. government does not review or approve the safety and science of all studies listed; sponsors and investigators are responsible for their listings.