The drug development process involves 5 main steps: 1) discovery and preclinical research to test safety and efficacy in animals, 2) clinical trials in 4 phases with an increasing number of participants to further evaluate safety and efficacy in humans, 3) FDA review of the new drug application and clinical trial data, 4) potential FDA approval and post-market safety monitoring, and 5) reasons for drug failure can include toxicity, inadequate performance, lack of efficacy, or low bioavailability.