You are right in that there are still many positive catalyst to move this higher. None of like the increase to AS and I hope this is just a defensive move to posture in case things don’t work out with a license deal as soon as they would like. I will admit, I’m a little worried they plan to take HIV alone with the new video posted recently and this move. It may pay off in the long term, but it will likely be a bumpier ride than if they settle for a decent HIV deal and then take cancer alone (assuming positive results).

I also expect their burn rate to drop some, but I think $3.5M will be the lower end as NP recently stated that they expected to increase commercial grade leronlimab from $50M currently to $100M.....if this is by end of 2019, then I expect this to be $1M per month cost and their previous burn rate (before BLA ramp up) was $2.5M I think....so I expect $3.5M and maybe a little more due to cancer trials and Commercialization hire / team.

This has been a rough week and looks to end badly unless they save tomorrow and Friday with an unexpected positive PR. I know good news will be coming our way in the future and while this puts a damper on things, I still have complete confidence in the science, BOD and management (I know some people are losing patience though).