In my opinion the trial is successful and the share price should have bounced - a sustained benefit in clinical depression outcomes is significant. Improvement in major depression in patients with drug resistance is also significant. The safety of the drug is also significant. On the cognitive side attention is only one cognitive end point and may not improve due to structural changes in the brain that are not amenable to pharmacological intervention or the time course to see benefit. With latter requires a longer duration of treatment as indicated in the webinar for a second study design. The thinking was likely if you see an improvement in cognition independent of no change in depression it could have been used as an add on. However now you have a treatment with a primary depression indication as a new drug class could be worth significant dollars. The study see was small in size so the effect is significant. Hence the rush to explore a deal in the next 6 months. Many trials that target end points that involve dopamine systems in motor or cognition will see a placebo effect that is quite significant. This is indeed a great result and I suggest it is a time to buy rather that sell down.