Baba,

I think the comments made over the past 4-5 months regarding retiring Al's LOC are perhaps coming to a head. As there have been no details of how this would be accomplished your paranoia I think is warranted. The hedge funds would like nothing more than to make money on the way up (calls, holding shares) knowing that at some point the company needs to dilute to retire the notes coming due (puts, short).

Apparently partnership talks are awaiting at the very least topline results. More than likely after 2 CRL's they are actually awaiting FDA approval IMO. There are some things that could further the climb up in the coming months other than simply a run-up to a binary event. We should get a boost from any announcement of completion of trials. We should get a boost from top line data (if positive). We should get a boost from starting the resubmission clock running in September/ October.

I wonder if there is a way to track production of the filling equipment in Germany. If a partner is serious about partnering what would keep them from a speculative order of custom filling equipment to shorten the ramp up in production.

This could be a very interesting summer.

Swing