The bad news is that the IND-enabling GLP Tox testing should already be started IMHO.
They had enough material for the range-finding Tox study at the end of September. That means they would have been able to start the next material batches at that time. It is now about 5 months later and still no PR of a start. Their initially stated goal in December was to start in Q1. But they should have been able to beat that goal.
Maybe they have already started Tox testing with initial batches and just have not announced it yet. Possible, but I am skeptical.
I understand the difficulties in this industry can cause unforeseen delays. Investors don't always see the ton of work going on behind the scenes to overcome the obstacles. Based on the progress of NNVC over the last year in particular, I am confident they continue to work hard and make progress.
But I was hoping for an upside surprise in the timeline on this one.
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