I am new to this so I decide to take a course on l

I am new to this so I decide to take a course on line from Yale to get an overview on statistics because I realized I was out my league..... ( still am) but I think I am starting to understand how perplexed Dr. Lalezari was about the markets reaction to CD-10 specifically NEWS2.
The lecturer in this class repeatedly emphasized how clinical significance ( treatment effect) is more important than stat sig.

That’s definitely not how it’s portrayed in the investment world.

Granted a low P- value in a large group gives you solid confirmation that something is happening with the drug vs placebo - rules out chance.

But is this understanding flawed or is there a disconnect happening with how the market understands clinical significance? Say an exaggerated importance placed on P- value.

Does the subjective nature of clinical significance push it to the back of the queue?

Started thinking about this more because as others have mentioned we are seeing MABS with decent numbers including I believe LL .......so just when is a drug relevant? at what number of saved lives is it worth approving?
I don’t expect an answer in hard numbers ....it’s just crazy to think about ........it’s like this pandemic is forcing us to put a price on life ....not something any of us really want to do.