They could do a million share buyback and take the stock to new highs,
Development stage bios don't do share buy-backs. Because of the uncertain timelines and the certainty of cash burn before revenues, they need to hoard the cash.
I would have deep doubts about the competence of mgt if they announced such a thing.
I can't think of an equivalent company that had a buy-back. I'm not sure why you believe this to be in the realm of possibility.
Regards,
Bob
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