I suppose I still think Ross is fundamentally honest and I keep...

I suppose I still think Ross is fundamentally honest and I keep hoping he won't stuff up again. But I really don't think he has a strong hand to play any longer. And to sell I'd have to sell at a loss.

For quite some time I've thought a takeover offer would almost inevitably get me back in the green - but there is little chance that Ross can get value in a takeover in my opinion. No bargaining power - the shareholders should have removed him. But in my opinion people like Sector ran interference on that.

The business model has completely changed - probably several times.

A couple of times Ross has caught me by surprise with what I considered to be bad news announcements. This is a second time - i don't think they need to be raising now unless they are considering doing some spending (like on GvHD) that I don't reckon they are ready to responsibly do. And I was also surprised by the Fujifilm pulling out of GvHD.

Another aspect is I'm still researching the industry and the field (I feel like I know the business) and I wouldn't want to switch from here to other stocks like Ex1 that is just about dead or MSB that I think is likely to get a knock back right now.

I actually keep hoping Ross will either make smarter plays or his team will - but I suppose there is denial in that and that is on me. I probably shouldn't have bought biotech shares as I don't stay detached enough and biotech is a pretty terrible industry to analyse - too many variables.

The tech is hard enough to analyse - compared to say iron ore or lithium - then you have regulators and government policies that can be all over the place.