I don't like dilution but I do take it as a given until long term favorable funding can be found. This strategy keeps and has kept Linda in control. I saw this as her strategy long ago. The longer validation takes and or income from HE is held back by negotiations the more dilution will occur. As long as manufacturing capacity and automation continues to improve so that DCVax is ready to hit the ground running when validation occurs, I feel the greatest limiting factor is being dealt with and moving longer term value towards nearer term realization. I believe Mr. Woodford sees this as well.
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