You couldn't blame them for doing either - EMA only route in the short-term and then back to FDA, or biting the bullet now, taking more time to harmonise EMA-FDA, raising more capital, and doing it all in one hit. The latter is better for SH in the long-term. And management won't be focused on the share price in the short-term. They'll be concerned with creating the most value for SH in the long-term. If the study (ies) progress as they should, the share price will take care of itself.
Ann: Investor Presentation, page-15
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