global leader, page-39

The thing is DS PYC has always had many heads up over all of the companies you listed - it's the only one that has had a big pharma deal at the table let alone the fact it had 4 big pharma deals at one point and potential milestones exceeding $400M yet it still couldn't materialise any of these and now with only one of those deals remaining albeit being well past the February date expected to be a key inflection point. I get Andrew's concern as lapsing dates with a few words that aren't binding to any kind of extension of a deal or milestone to be achieved has been seen all to many times before.

They need to deliver something to break the ongoing perception of not being able to convert these deals from outset to next stage & keeping the partners in the picture.