What you don't seem to comprehend is that a drug that treats depression (even without improving cognition) is far more valuable than a drug that improves cognition in patients with depression without actually improving their state of depression. If we met our primary endpoint but not the secondary endpoint then our TAM would be a tiny fraction of what it is now with just a successful secondary endpoint result.
And with respect to "appalling capital management" - I'm still waiting for your reply as to how they could run these trials without an industry standard cash burn and raise capital without dilution. What could they possibly have done better to meet your lofty high standards?
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