A De-risked bio-tech with 4X upside - Karst Peak Capital, page-26

You are almost certainly right Eagle. So is Oupa - they bought (?) most of Walker's holding. [wtf did he sell to them - don't tell me it was chicken feed for a man of his wealth because a $ is a $ - probably the reason he has accumulated his obscene wealth].

Also, they must have sold a few between their buy in and the P3 results because their overall holding has decreased between their entry and now (by over 2.5m shares) and they state (below) they have been buying post P3 result.

" ... in fact, in our view the risk/reward of the stock is more attractive today than at any point in the past few years and we added to our position following the Phase 3 readout ... "

[A word of caution I guess - the VLA share price was trashed between their buy in there and the eventual take over of that company and now they are publicly pumping us! - I do not trust money all that much.]