Exactly my point!!! "Derisked" is a relative assessment !!! In my view, Northwest had 2 remaining risks, TLD and External control comparator. Now that we have a great TLD, the investment is derisked substantially. Additionally, if the UK/MHRA doesn't change their mind, "External Controls" comparison has already been accepted!!!
All it takes is one RA approval and the rest will follow.
Cheers,
BB