So who is to blame if Brazil is behind and doesn't bear fruit? Cases are down 85% since we announced our trials, so that is clearly out of his control. The enrollment of the trials isn't Nader directly, as he has signed agreements and with the help of his team, he laid out a path that seemed to be our best shot at getting an approval. There are always multiple voices in the room and multiple people with duties to fulfill, but at some point the buck stops at the CEO. In some ways he is a victim of his own optimism and I don't really blame him for that. He has to remain positive to keep people engaged and invested, and that is Nader's strength. He's telling us what we want to hear, but he isn't delivering the approvals. That's my frustration with him, but I have become pretty numb to most of his missed timelines and pretty good at reading his tells for disappointing news before he actually says it.

I don't know where we are in Brazil. None of us here do. I do know that over the past 4 years when he went radio silent on a specific issue like this, it has not been good. Some here were expecting interim data by now, and the tea leaves are telling us we aren't close. With the BLA in purgatory, we need Brazil to have a shot at an approval in 2022 or we'll be sitting here a year from now contemplating another $200M share authorization, and I'll be facing a decision with near term expiration of a load of warrants that I never expected to be reaching that point.