4DS - Anything but Charting, page-19518

Never ascribe malice to that which can easily explained by incompetence. (But don't rule out malice)

I think the 4DS team is in reactive mode at the moment - they aren't getting on top of the issues and driving the agenda. A lot of that will be due to the lean team they are running (It wouldn't surprise me if Drs Wilbert was probing the wafers in the lab himself) and some of it possibly is due to complacency, thinking that PL3 was on the cards and all they needed to do was let IMEC get on with it.

The technical announcement reads like it was rushed and I don't think they had planned for that outcome. If they had, they would have had a contingency plan that they could have fallen back on to announce quickly, shore up investor confidence and demonstrate they were on top of the issues. They would have put the company in another halt immediately to announce the outcomes of a placement/rights issue.