The timely commencement of a study is just as important as its timely completion; as you can't complete it on time if you didn't start on time.
The adherence of the critical path of this study/project is certainly price sensitive and I have no idea what you are on about.
Just because the announcement is expected does not make it less price sensitive, which is why every quarterly is always marked price sensitive even when there is no unexpected information contained within it.
Ann: VAXINIA Phase 1 trial doses patients in higher dose cohorts, page-57
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