Does anyone know if the S1 has been updated since the valuation. I don’t recall. If not that certainly has to be done before it can be approved. Also once it is updated it will not likely be approved overnight.

Hopefully there are multiple processes working concurrently such as while data / test results are being parsed and translated for the IND there is no reason why they couldn’t be also working on updating the filings with the share structure.

Unfortunately I think this slow trickle of the pps is indicative of the market realizing that every day that passes and each new vaccine that is approved is a smaller share of the market that we can POTENTIALLY get.