@dan,
I think the podcast transcript might make you feel more optimistic. A few points that might be less obvious:
--A 10 dB change means something is twice as loud. That's not insignificant. Factoring that on with doubling word scores, restoring hearing is happening. Those results are unprecedented. If you don't believe it, ask your audiologist what they think of the doubling word score results.
--Frequency believes the audiogram changes were much greater above 8000 Hz, that's why they are measuring 8000 Hz to 16000 Hz in phase 2A. They also believe multiple dosing should likely have an additive effect in terms of penetrance, but they don't know the range yet. They are measuring 250 Hz to 16000 Hz so we will know after 2A. Based on pre-clinical studies and the recent German cochlear explant studies, the drug does reach therapeutic concentrations and results in hair cell growth in the cochlea in humans.
--On the Tinnitus Talk Podcast, they mentioned while not having data yet because it wasn't an endpoint in phase 1, they did have anecdotes that tinnitus improved.
This later is a huge deal for tinnitus sufferers because in order for Frequency to have this info, patients reported it significant enough to their ENTs (there were 3 different practices in the San Antonio area used for phase 1) for them to report it to Frequency. Frequency was blinded to the study which means they got the testimonials from the ENTs after full completion of Phase 1 and not directly from these patients and these testimonials must have been strong enough (and likely from more than one ENT) for them to add tinnitus to their phase 2a endpoint. ENTs must have told Frequency "I know you weren't checking for tinnitus in phase 1, but we are hearing good reports."