Not a lot of positives from the call for sure.
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That said, Cyrus said he knew there was the potential that the BLA would be abandoned before he took the job - and still took it. In other words, he knew that things were far worse than we did - but still staked his reputation and career on coming on board. That is telling in my opinion.
I'm trying to stay positive. I still think there is a great deal of future value creation here - but the goal post without question has moved further in to the future once again. It's too late to do anything other than hunker down / and or buy more shares.