PAA, A New Dawn , FDA ODD Approval and Entering Phase II MND Trial, page-871

I think MT and the PAA team are operating extremely strategically.

I think they might be aiming to have a partnership / takeover done prior to start of the Healey platform trial.

That makes sense in light of the ongoing OLE trial whilst Healey is getting ready to start at the end of this year / beginning of next.

OLE will offer further supporting evidence of efficacy whilst de-risking the trail somewhat. If they can add some secondary bio markers like nFL levels that would go a long way to securing further BP interest.

In theory BP could buyout and run with the trial, ready for potential accelerated approval at the beginning of 2026.

Remember, the CR was not for the whole trial, just to reassure Healey they had sufficient funding to see the trial through. The CR was very sensibly done so that there was limited dilution, especially where the SP was at its lowest points.

Just my thoughts, could be way off the mark!

I have to commend MT and the PAA Team though, extremely impressed!

GLTAH!