Starting to question the management TBH but they might have thought any selling by the RI to take full advantage of the SPP and shorters taking advantage which has significantly halved might have been absorbed more by the Insto and SI particularly as it was apparently oversubscribe.
Anyway, I did invested in RAP and the management was shit and it still got T/O by Pfizer (admittedly a lot lower than I was expecting since they had major cash fund problem with the pps in the dump) and there's PCK who apparently has high calibre management and their MC has dropped to as low as $30M and are struggling to commercialise their product. So at then end of the day, it's all about the technology and that's what I usually look at when investing in biotech start-up.
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