Micko, your scepticism regarding the company's cash reserves and...

Micko, your scepticism regarding the company's cash reserves and the future of the trials is not unfounded; these are indeed common concerns in the biotech sector. However, I think it's crucial to look at the bigger picture.

Firstly, the speculation that the company will run out of cash within six months is just that—speculation. Many biotech companies secure additional capital through various avenues such as secondary offerings, strategic partnerships, or government grants. These can significantly extend the company's financial runway, making a liquidation scenario less imminent than one might fear.

Secondly, concerning the trials, it's important to remember that abandoning an ongoing trial is generally a last resort. The sunk costs and the potential future earnings often make it more advantageous for investors or partners to keep the trial running. Scrapping a trial mid-way can result in more financial loss due to wasted investment and the negative impact it has on future funding opportunities.

Lastly, on the subject of liquidation and intellectual property: while it's true that there's a risk of the IP being bought out in a liquidation scenario, it's also worth considering that companies often go through restructuring or seek out mergers and acquisitions before taking such a drastic measure. This can offer an opportunity for shareholders to either recoup their investment or even profit.While caution is always advised in the volatile biotech sector, let's not entirely overshadow the conversation with worst-case scenarios. The risk is there, but so is the potential for significant upside.