I believe you misunderstand what material events are. They are about money. If OWCP were being paid millions for the initiation or completion of the safety trial, you'd have a material event, but not if they aren't. In another company I'm invested in, with over $100 million in the bank, they no longer report million dollar milestone payments when they happen, they report them in the quarterly.

I'm really uncertain if it's based on a proportion of what they hold, or if the SEC has made a change in guidance on what constitutes a material event, but much less than previously was reported as a material event is.

Gary