"Wonder if he’ll increase authorized shares ahead of data while there is still interest in case they fail? "
Good question. And I'm surprise you opted to remove the comment that that would be a smart strategy....because it would. Just like leaving some of the salient specifics out of the filing of his employment agreement and the performance based awards was smart.
Sometimes the right things to do and the smart things to do aren't the same things. Just ask him.
As my dear old grandfather Litvak said (just before they swung the trap), he said "You can't cheat an honest man. Never give a sucker an even break or smarten up a chump."