I believe as someone on here mentioned before that the strategy has changed a bit. The S1 for NGIO would probably have already been in had it not been for the pandemic. However the vaccine has the potential to add millions (billions)? to valuation and so they cant submit until they know what their valuation is. You don't want them to undervalue the IPO do you?

GNBT S1? IDK maybe they feel they don't need additional funding if they hit on the vaccine so they are waiting. It sucks to wait but i cant fault them for waiting to see where everything shakes out.