I would say it's mostly a change in investment strategy. I can...

I would say it's mostly a change in investment strategy. I can HODL these biotech assets from an average of 20 cents, but the reality is these biotech assets have definitely not bottomed and there is further downside. Would I hold something from 20 cents all the way to 4 cents? or should I sell at 12 cents and buy back in at 4 cents?

Also, a big rationale for my change in sentiment was finding more information regarding how CLTX CAR-T will perform in this indication. I've posted my findings on TransMolecular's 131-I TM-601 and how they fared in GBM in the past and with the trial completion and data updates coming in soon, that is not a risk I'm willing to take. CAR-T on solid tumours without any combination therapy to mitigate the TME is not a recipe for success.

I can change my investment thesis as I find more information. If the data is good and proves me wrong, I would buy back in. If this is undervalued, a 2x in the price would only bring this stock to an 80M market cap and that is still undervalued.