Hi coldchain, very valid points that highlight the patience required to be a biotech investor. The inability to progress deals is no doubt frustrating for all, however my take is that the end game here is sooner than you suggesting insofar as they are looking to build up their platform / tech and flog that off for someone else to develop over time. It means existing shareholders will not benefit from the end game, which is a significant value add, but may be able to exit with a reasonable outcome in the nearer term.
Still, nothing will happen if they can't validate the tech, which may get a big boost this month, or if they can't do deals with Pharma. Mgt know they are on their last legs and rolling the dice. Let's see how they go.
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