Peoples investment criteria is different . It was

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Peoples investment criteria is different . It was a crap shoot at .30 cents . That’s why it was there . In reality many safer style investors didn’t get in till the bla was finally submitted .

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The only main difference between .30 and when the BLA was submitted was the Vyera deal. Which didn't differentiate risk all that much. The BLA was going to be submitted at some time so it's submittal did not mitigate risk at all.

What it comes down to is perception of risk. If someone didn't take a deep dive into the science they would have little idea of the viability of leronlimab and the BLA may seem to give it some validity (which it doesn't). For those of us who know the science we know the risk was minimal.

One may point out the financials but doing DD on the company would have shown the pattern of many small dilutions on an expectation of increasing share price. It would make it seem the company was on shaky financial ground but another round would keep it afloat until share price rise, If you balanced potential vs. dilution, moderate dilution was no worry.