SP momentum, page-9

it is a good point on communication Joel. But I think the most important timing to communicate this now is with the phase III results. they probably missed the opportunity on this earlier in the year with the end points announced as revised

you would assume that they have negotiated 'in principle agreements' for licensing scenarios; a) treatment and prevention & b) treatment only. Once the phase III results are out it is plausible they can announce licensing under either scenario at the same time or shortly after. They then move to get the product to market.