I wonder if their (long term) shareholders would have been better off if they partnered in the US early on (something like ITMN's 2/3 cost share by Roche and 50% of the revenue) and had a more reasonable cash burn.
It seems most biotechs will burn as much money as they can raise and the ideo of long-term value and minimizing dilution is not high on the priority list of most CEO's.
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