If DX-3 doesn't get licensed out before trials I am not worried. The company will be preparing to go through phase 1 trials for DX-1 alone - if they don't then they look like even easier fodder for bigger companies that know we need the cash. Sure that might lead to some dilution, but a post phase 1 asset is more valuable than a pre-phase 1 asset anyway. As I've said before, any deal for DX-3 should be looked at as a bonus, not an expectation.
With all due respect, the Dr is very good with words and of course he is going to tell you what you want to hear over email.
If DX-3 doesn't get licensed out before trials I am not worried....
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