“He kept betting that the share price would increase, thereby allowing him to raise more money with fewer shares. It didn't, and he didn't.

The is and has been my entire argument. I just figured out how to make it shorter.”


Your shorter argument earns a shorter reply:


Nader acted with the intention of minimizing shareholder dilution.

He believed the trials would succeed.

We are paying the price for that gamble.

Such is life in biotech.