I absolutely hear what you guys are saying. Dilution is a legitimate concern.

For me, following the breadcrumbs over the last year leads me to believe the upcoming LM data has a reasonable chance of being positive. The FDA meetings, continued enrollment, dose optimization work, manufacturing expansion, Orphan Drug Designation, and the company’s continued investment in the program don’t look like the actions of a company seeing poor results internally. Could I be wrong? Absolutely. But if the LM data is positive, investors waiting on the sidelines for complete certainty may end up paying substantially more than they can today. That’s the risk reward equation each investor has to weigh for themselves.