Yes, I think the L1 facility (at least in its current form) is dead. I don't think it should have been in the last quarterly for the reasons I stated above.
Hopper traded off his VLA success for some time, but the reality of the snail's pace progress and the insufficient efficacy of the drugs he's had in trials for the past 10 years looks to have caught up with him. His executives are way over-paid for the limited impact they have on scientific progress (remember almost all the clinical trial work is outsourced).
When he was the market darling, he'd raise capital and the SP would (usually) go over the raise price. That hasn't happened for a long time.
To this day (and he's been going at it for over 15 years), he's never been involved in a drug that's made it to Phase III trials, let alone had one commercialised.
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