I'd be very careful reading too much in to these recent price...

I'd be very careful reading too much in to these recent price movements, as they are based on no new information. This company remains a one trick pony, and is highly dependent on the NNZ2256 trial for TBI. The Retts etc speculation is purely that - if the results of the TBI trial are not positive, there would be little to no chance that the drug works in these peripheral conditions. The TFF antibodies are at a stage several steps behind NNZ2256 and the chances of them getting to phase II level are in the single figure percentages. There is also the risk that other approaches make TFF antibodies obsolete before they advance to market - the range of competition for (breast) cancer treatments is enormous, and nobody can predict at this stage which approach will eventually result in an affordable cure. A TFF project actually should actually be considered a financial liability in the short to medium term as you'd have to fund the trials. If there was a price spike around any such announcement, it would be a good time to sell assuming there wasn't an associated positive piece of news about the NNZ2256 trial e.g. recruitment faster than expected.