Except that these guys have trumpeted their shift in focus from...

Except that these guys have trumpeted their shift in focus from early stage preclinical drug discovery (thus closing the Australian office) to later stage pharmaceuticals. And now they have shifted back to preclinical?

And they scoured the entire world and found this portfolio ..... in the same city as their offices ! Who knew!

What a crock. They are scrambling to replace the halted RSV BTA 585 study (which I presume is still halted because they haven't said otherwise, but who knows).

Their share price is way below cash in the bank, which is an achievement for a US biotech even in these less heady times.