Very Short Term: What Now?, page-22

My thoughts are Fuji film have NOT walked away .
This option agreement was signed almost 2 years ago and I think in the fast pace of stem cell tech and forward strategies Fuji may have changed course slightly in their direction . Thus some components / structure of the option agreement need modifying not necessarily to the detriment of Cynata but to fit with their own global ambitions.
It is not about the tech , $s etc - I believe they want our cells - it’s just the structure of the agreement.
As someone else pointed out the recent manufacturing plant deal Fuji have done no doubt took much legal and bedding down work .
I just reckon Fuji ran out of time ( could be naive and just hope )
The machinery probably works slowly - dotting i’s crossing t’ s etc .
Legal teams in both languages cross checking and checking again so no errors are made . Once legally ticked off then probably to go to the board who only meet monthly .

I have no idea when Fuji indicated they may need more time and I would guess CYP only found out recently.

I would also guess that the 6 month extension was given to ensure that they had enough time .
It would be worse if say 60 days were given and it was still not done and CYP would have to come to the market again and say sorry still not locked in.

I do think we will be surprised and the full 6 months will not be needed.

The market is always reactive and disappointed when time frames are not adhered to but the tech is good , Fuji appear to still want it ( or they would have just walked )

Time to breathe re assess say bugger that didn’t happen in the time frame we wanted but hey it’s still coming