Jerry,
The $0.8M figure is not in dispute. It’s a year-over-year increase related to Specials manufacturing. But that’s not the full picture, and you know that.
What I’m struggling with is why the broader disclosure ($19M to Advent, GMP-based Specials infrastructure, QP-released patient-specific therapy) keeps getting narrowed down to a single delta, as if that’s the whole story.
You’re presenting one tile and calling it the mosaic.
The regulatory structure behind Specials and IFR is fully visible, MHRA-authorized, traceable, and tightly governed. And if the goal is clarity, we can walk through all of it. But if the goal is constant zoom-in on partial context, while ignoring the operational and legal reality, then I have to ask:
What’s the actual intent here?
Because it reads less like analysis, and more like someone trying to hold the signal underwater.
Happy to clarify if needed. But let’s not pretend this is about just one number. It hasn’t been for a long time.
Bullish
Market Data 
Markets 
