What they were expecting? Miracles!
No other biotech works at this pace. Literally tearing pace with multiple trials and so many irons in the fire. They are not used to it. Usually it is one biotech with one drug with one trial which takes 12-24 months. While the SH are twiddling their thumbs the mgmt does a couple of CRs and cashes out their oppies, and rewards themselves for announcing the trials with some performance rights. People will then say that was expected and wait for the trial results.
If results succeed then next round of trials start for another 2 years. If it fails, more CR, more ANNs, more trials, more performance rights/ oppies.
Show me one Biotech on ASX which is doing as much as Race at such pace in such a short timeframe with no CRs or no mgmt bonuses for every step?
Ann: Race Strategic Update March 2021, page-282
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