Ann: Second Study to Include DMX-200 in COVID-19 Patients, page-51

I wouldn't put zero on Covid or COPD....I think we just need to wait and see.....

However I understand the frustration on the waiting for DKD, it has in fact taken much longer than most of us here expected.....At the end of the day I expect a positive outcome for the sake of the holders...i.e. a path way directly to Phase3....

There are few reason why there is not a lot of positivity around the company ....as a SH, I have below concerns...

1) Cashflow: Biggest challenge given they only have about 5m in bank and need to start Phase 3 FSGS in house at minimum......Everyone knows they will need to raise the money sooner or later......and given the history of their raises, it will come at a discount of the current SP...so as a potential buyer of shares..I prefer to wait for another month of so to get discount on current SP.......(of course there is a risk if SP goes up but again that's a wish)

2) DKD: Lack of visibility on next steps for DKD...Everyone waiting on their sub analysis....who knows when will they make finalise it.....Two possibilities......1) Another phase 2 study which is a killer from SH prospective.....i.e. another 12-18 months wait and more money needed.....2) Progression to Phase 3........Can't and shouldn't do In house, other possibilities...?

3) Timing of Covid: As others pointed out, timing is key......this better comes out quick ...

4) Further cash flow drag of COPD development and operating costs

My dream as a SH.......Partnership deals is a must for DKD (hell even for FSFS, I as a SH will be more at ease if this is done by another experienced company).....2) Covid outcome opens up doors of revenue generation, unlike others I think impact of positive Covid study on SP will be decent even if revenue opportunity is relatively small post vaccine...it just builds strong trust in the science and thats critical for any biotech....