I'm very excited about the new President / CEO. I had written previously that if we got someone good, it would be a great indicator - as he has clearly done his diligence and believes the drug has strong potential.

I was encouraged that we were able to raise $20MM. My biggest concern in this current market environment has been that money will be harder to come by as conditions tighten - so that's great that we're still able to raise money. By the way, did anyone else catch that we paid $3MM to the placement agent - geez, that's a lot of money that we could certainly use.

Anyway, some may think my view that we don't have a partnership at our doorstep as being negative. It's not - i'm very bullish long-term. But listening to the call again for a second time leaves me convinced that we're being primed for more authorized shares (which i'm ok with, but dosn't suggest a deal of any sort). It also was clear again that this clinical hold will take awhile - and that pretty much everything (including a buyout or partnership, as well as BLA) is on hold til we iron it out). If i'm a buyer or partner, i want that taken care of before i make a committment - otherwise, they are putting money into a situation that has major regulatory overhang.