I'd add that it wasn't just the raise that tanked their SP. It...

I'd add that it wasn't just the raise that tanked their SP. It was the reason for the raise.

They went from (IMO) not too subtly suggesting the potential for accelerated approval off the back of their open label extension to now looking like they'll have to wait until late 2024 for top line data from their P3, which would be what, early 2025 for licensing approval... if the results are good enough, etc?

Not disagreeing with the point that the market is brutal and that a bad deal would be punished (that was the point btw, in the unlikely event that you were being serious Itsa). Just think there's a bit more to the tank and the underlying reason for the ridiculous discount.