I hear you Fbg. The bottom line is that no one here has all the pieces of information needed to make any determination if the path forward KB ultimately selects is "dumb", as someone else posted.
Can KB get $20M upfront now to partner a HOT construct without data? No one knows. If true and he passes on that deal in hopes for more $$$ down the road after data, then yeah, I could agree that perhaps that wasn't the best decision.
But, it could be that KB simply can't get any cash upfront without data. If that's the case, some modest dilution is the better approach, IMO.
We don't have all the info. Point of my prior post is that no one here can claim a decision is "dumb" without having all the facts. I trust KB will do what's right for his 750K options, which are aligned with shareholder interests.
Signing off for long weekend. GL all.
News 
Market Data 
Discover 
