Bio,
I agree with your sentiment regarding the RS and the fact that Dr Kim was not able to raise the pps organically.
The March 2014 financing and the RS announcement and now approval have helped drive the price down from near $4.00.
We have see some companies that run too many clinical trial programs, at the same time, causing a high cash burn rate. Dr Kim has had a good start partnering some of INO's early candidates, but may have less success partnering if the phase 2 HPV trial is not successful.
Dr. Kim's plans and early clinical work are impressive, but it has been awhile since we have heard much positive news. He, and the shareholders, have a lot riding on the upcoming HPV trial results.
I hope he can deliver and restore some of the shine to last year's biotech star.