I was not aware of Convivia. I have to admit, it's clever. Recycling an already approved drug for another purpose is certainly one way to fast-track to the market. It looks like they've already completed a phase IIa trial, although it was way back in 2008 and I can't seem to find anything more recent. (I wonder what in the world they have been doing since then.) Here's the link to the actual trial in case you're interested. Unfortunately they don't post any hard results.
(I can't post links for some reason so go to clinicaltrials . gov and search "4-methylpyrazole aldh2")
The problem I see with this drug is liability. It's an interesting idea. In us, acetaldehyde dehydrogenase (coded by ALDH2) is the bottleneck of alcohol metabolism, so acetaldehyde builds up. This Convivia slows down the first step in the reaction, the conversion of alcohol to acetaldehyde, presumably just enough so that our defective acetaldehyde dehydrogenase can keep up with all the newly forming acetaldehyde being thrown at it. The problem is, this would theoretically shift the bottleneck to the first step, meaning instead of a buildup of acetaldehyde, alcohol itself would build up. Yes, this would definitely lower the levels of the carcinogenic acetaldehyde, but it would create a potentially dangerous inability to metabolize alcohol itself. Meaning whoever took it would probably get drunk very easily, and if they weren't careful, could do themselves serious harm from outright alcohol intoxication. Basically, it could lower your liquor tolerance to that of a, we'll say, 10 year old girl.
Maybe they can work out a final dosage that finds a happy balance between slowing down the alcohol dehydrogenase just enough to keep our defective acetaldehyde dehydrogenase from overloading, but keeping the alcohol dehydrogenase fast enough so that we don't black out after a couple beers. But even then, I think at the very least it's playing with fire, and I'm a little surprised this actually took off. You're seriously going to rely on people to be rational and not "overdo it" as they partake in what may be the most singular, fool-proof, time-tested catalyst for irrational behavior known to humankind? Yes, people exercise restraint all the time when drinking alcohol, but bars and grocery stores don't get sued when someone drinks themself to death or kills someone while running a red light. Call me morbid, but what I see from this is some story in the Sunday paper about a freshman being found dead in his dorm room with a bottle of this stuff next to his bed. Drug companies don't want to deal with that. At least none that I know of, but maybe (probably) Raptor knows something I don't.