It always takes much longer than people think to evaluate results from a clinical trial, and that's particularly true in one like a psoriasis trial, where there is a certain subjective element to it. If there is still a lesion, how much smaller is it, what's the patient's discomfort level, etc. So I can see how it could take them quite a while to make sure the results accurately reflect the clinical trial's efficacy. No one wants to understate the efficacy, but making exaggerated claims would get a company into big trouble.

4th quarter starts in October so if your calculations are correct, they'd be looking at 6 weeks of analysis to get results out by Oct. 1. I think that's pushing it, but it wouldn't surprise me to see results in October or maybe early November if we're being overly optimistic about enrollment.