The "cautiously" optimistic comment stood out. I think its a combination of many other pharmas failing in phase 2 of NASH, and NP learning to manage his excitement along with the expectations of shareholders.

I believe RP's letter kind of called him out on his Press Releases so I think the cautiously optimistic probably came from the Dr. who was working on the mice and NP is responding similarly.

Speculation and opinion. I could be wrong on both counts, but either way, I hope it works out.