RAC - Charts & Price Action, page-13646

I'm a little confused, which isn't hard these days.
Management have stated the courting of big pharma should be happening by end of year, roughly 3 months. One could assume this can only happen because they have enough clinical data to begin the marketing. If this is the case then one could also assume the buy back shouldn't be required from January onwards to keep us at fair value.
Management have clearly stated they will return excess cash to shareholders by reducing dilution, ie the buy back, by this statement we could once again assume they intend to spend it all. So by my reckoning they have 3 months to spend our money on the buy back, potentially less if we get a left field announcement to excite the market.
My question is what's with the minimum numbers being bought, every now and then just take a 60k parcel and make a statement about our value.
Like I said, I'm easily confused, so probably way off with my opinion here.
GL all.