Construction starts now (they literally said they are already working with contractors, sourcing equipment, and preparing for the build).
They estimate six months for construction => That points to around April/May. Then a “short installation and validation period” =>Typically 4–8 weeks for automated GMP equipment (IQ/OQ), depending on complexity. That places operational readiness in June => Which is exactly why they stated “manufacturing established in Q2”.
So the idea that this somehow extends to December 2026 is just a misread. They didn’t say construction starts in Q2 they said manufacturing finishes in Q2.
Their own wording excludes a Q4 2026 start unless the build slips.
Incorrect. If they had said 'manufactured', maybe since that is past tense. 'Manufacturing' means it's STARTING in Q2. You guys sure like to make stuff up to feel better about losing money.