endorsement of vla - great article, page-8

The fact that 10 other companies are chasing the same goal, and 3 are in later-stage development, is also a signal for caution. We're all very excited about a Phase II trial, but it's worth remembering that only about 20% of Phase II trials succeed. The majority fail, and one of the main reasons is that there is too little differentiation from more clinically advanced products. Valuations in the hundreds of millions or billions for those other companies is not necessarily indicative of what VLA could be worth - it's indicative of how close they are to beating VLA to the money.

I'm holding for now, but VLA is no certainty for longterm holders.