Getting into Phase 2 is definitely a major milestone and as such...

Getting into Phase 2 is definitely a major milestone and as such price sensitive.
How many trials end after Phase 1 because they are not well tolerated or for other reasons.

It also means moving on with "Plan A" (HIV) after playing as well in other areas (Covid).
I think it's good that the focus is back on "play to win" and not "play to play", even though the other studies have shown general efficacy against viruses.

Capital may turn out to be the bottleneck and any good news from clinical trials will help this ship sailing on.
It is not as easy as before to get funded nowadays.