TLD isn't something they have, it's something they create from all the data their contractors have gathered and consolidated. It's created by the officers in the company, an advisory panel, etc. but while it's just a few paragraphs, you can bet it's wordsmithed by many people before they release it. They don't receive money on it's release and while you can claim it's a material event, the company can hold it until they're satisfied about what it says, so that pretty much says they can hold it indefinitely.
If they received some monetary amount, then they'd have to announce that, but they didn't. I would hope that we'll get the TLD statement in the not to distant future, if they're waiting to add something to the statement, like announcing the trial will be published in the NEJM on XX January 2021, they can't say it until they've been advised that it will happen. They do not need to announce such a presentation in TLD, but if they made the determination they want it in their, they'll wait for confirmation. Likewise if they submitted an Abstract for a presentation at a technical conference, they can announce it only after being notified it's been accepted for presentation.
TLD doesn't normally not get issued before either technical presentation or publication are assured, but I don't believe that anything has been violated if the company waits for such an assurance. In that we're in the holiday period, a time that many key people aren't present, it's best that it waits until most are back to work. Sometime early next week would get the year off to a great start.
Gary
