Ann: Receipt of Final Clinical Study Report , page-7

Here's my take. I think Jones is nothing more than a real estate salesman preparing the vendor for the worst in a tough market prior to the auction. He wants to be seen as the saviour of CBIO, the only man capable of delivering a deal with Novo. Let's not forget this drug works without side effects and there is nothing on the market like it.
Now that the study is complete Novo have to pay 3 million, which with the new rights issue plus what's already in the bank, means CBIO is cashed up. The question is who do you trust with the purse strings? From my experience, it is not Jones and his cohorts.