Ann: Independent data review commences for Ph 2 trial psilocybin, page-43

Well commence yes but I suspect not necessarily complete, pre-CR the company said they had a long cash runway but never any indication as to exactly how long that runway is. IHL-42x phase two with the expanded sites will be rather costly so you have to factor in the expenditure acceleration once that begins vs. current cash burn, but then the R&D rebate is also quite material, so it could well be that post-CR the larger cash balance helps to bridge any timing mismatch between the R&D spend and getting the associated rebate back, thus enabling the management to say with confidence they are indeed fully funded into 2025. Don't forget alot of biotechs in the US were trading below cash so you have to take that into consideration when thinking about whether management is right/wrong in undertaking the CR at the time.