I'm sorry to keep disagreeing with you on this, Hoyland, as I...

I'm sorry to keep disagreeing with you on this, Hoyland, as I have found your posts very informative and useful. But the way the current trials are designed (Pfizer were involved in the design BTW, I wonder whether they were trying to help or to hinder) there is a lot of sitting and waiting. Sitting and waiting does not burn vast amounts of money, so (a) there is no need to raise more money yet and (b) there isn't anything worth spending it on in the meantime. As for having a plan B, well BLT have one and it's in operation right now : BLT have one basic product only, shRNAi, but it has multiple potential uses, namely HIV/Aids, Hep B, Hep C, Macular degeneration, and a few more. Rather than pick just one potential use for testing, BLT have picked six. In order to spread cost and risk, three of the six are being progressed at BLT's expense, three at others' expense, eg. Calimmune. Yes, efficacy is what we are all waiting for - which means that BLT's shRNAi works as per a particular test - but efficacy on one of the six potential uses blows wide open the potential for all six and for more in future. Oh yes, and there was another element in the plan B - they have been extending the relevantbpatents out to 2024(?) or beyond. So rather than waste time and money on things they can't do, and rather than waste time on deals which would give the company away, mgt have been spending their time and money on those things which will be of greatest value to the company.

Like I said, I think mgt have been quite smart. I'm miserable having to wait for the trials to produce results, but I recognise that that is what we all have to do. In the meantime, the market does what the market does best - totally mis-price shares so that money can be removed from the weak and delivered to the strong.