quintiles gets the ball rolling, page-9

Potentially Roy.

Your argument is based on terms between TIS and Quintiles that have not been announced and may not eventuate, and the deferment of US trial costs until they can be funded through cash flows.

I personally would not want US trials to be delayed ~2 years given the size of the market. Quintiles can potentially provided TIS a funding package for trial expenses though. Once again this is not definitive.

Things may eventuate as you have described however it is far from a given.