JJ - all valid points and it could also well be a combination of some of your theories.  I hope it is not your tire-kicking theory but I tend to doubt it.  I find it hard to believe that they could stay afloat this long unless there was indeed something substantive taking place.

I also sometimes wonder if the delay is due to timing in general.  What I mean by that is, given Covid, who knows when this trial would actually commence?  Bear suggested it could be next summer before we see something happening.  So, if they announce a partnership deal now it kind of 'underwhelms' after a few months of nothing happening.  If this theory is a contributing factor then with the staggering number of cases currently throughout the US I don't see an announcement anytime soon.  Alternatively, they could firm up a deal, announce it and just say up front that given Covid-19 its going to take awhile before BoM2 can commence.  In the meantime though, a partner would have to keep the ship afloat and they will surely want some clarity on how long that could be.  Anyway, nothing to do but wait or bail but I think bailing at this stage is premature.  I suppose we'll see.