No one should underestimate shorts, they still hold a decent position 472M and this data is almost 6 days behind from 11 February so they still have a ground for plan. We will only know there position once we have a data published beyond 20 February, however if you do not need to sell then short position is insignificant and your paper loss doesn't mean anything
I'm still underwater and possibly many LT holders as IMU IPO was 20C, however I've averaged down recently. The only better days we have seen was in 2021 when SP was >60C (which was a rare case of market recovery followed by COVID and it was common to almost every share).
What I expect to happen in next few weeks that the result from ongoing study (including from10 patients), are as good as what we published on 14 Feb, and can be endorsed within few weeks s, that will be groundbreaking and this will shift the paradigm. If that's the case we'll see shorts position diminish and many of us can buy another house, or clear debt, go on holiday etc (similar to what happend with Sigma).
The Friday announcement had changed many sentiments, So believe in Science and DYOR before any buy or sell
(20min delay)