A reasonable a-priori assumption is that the results were not “meh” level…rather, they were quite positive otherwise why bother with a poster. Another likelihood is that the results from the follow on study put a p-value on superiority over currently approved treatment while expanding on the treatment population with fibrosis reversal and origin of the fibrosis. That suggests more powder-keg type results that are getting traction with potential partners. This is the Oscar moment where you know you made the short list and are waiting on the envelope…

There has been plenty of speculation on why the poster is pulled, most scenarios imply a positive outcome but we are still in the waiting phase. After 5 years of waiting on my end I’m content to wait for the envelope as it is not years off at this point…material event may be incoming…and soon.