My sense was that the PR was supposed to imply that their valuation should be higher than the November estimate due to the advances in the COVID vaccine development (Joe stated the valuation didn't include the COVID vaccine work I believe). It was poorly written and should've explicitly (and not passively imply) stated that the COVID vaccine work was not in the valuation ... either way it was money spent (dilution) on something that most people following GNBT/NGIO knew already ...