I don't think you understand the first thing about startup biotech (I take no pleasure in saying this). Rare is the company that in its earlier stages, gets unlimited resources to run every program they have on the books without pause. Startups in general have to prioritize as a matter of survival... That doesn't preclude considering them fully-funded within the context of what their ambitions are for a given period. And yes, those ambitions are going to fluctuate based on external circumstances. This is true of all companies. Virtually every company on the planet has had to adapt their timelines over the past three years for reasons that I hope do not require further explanation.
You can do the math, if you choose to be a realist. 30M, with a phase 2 candidate and phase 2/3 pivotal trial candidate ahead. Would you rather they try to do another raise in this climate, so they can run IHL-216a in parallel with the two others? I didn't think so. So why are you faulting them for prioritizing? This is getting ridiculous.
Besides: "on hold" in this case means it is only on hold as long it takes to either continue development with a partner, or for circumstances to change in such a manner that funding the very expensive Phase 1 trial independently makes sense.
IHL Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held
