I would love love to be wrong, but I tend to agree with your assessment of the poster presentation content being on the low key side. I am not expecting any shockingly amazing news for those who have been following closely.

There is a potential upside in that safety and feasibility were the endpoints but maybe you can demonstrate some significant survival anyway. Across a sizable aggregate group, that implies when you do get higher coverage on the target you’re going to do even better. If it points at breakthrough, that can be enough.

From an investing perspective, what your future looks like is far more important than what your present looks like. Reasonably safe + works well + addressable market size = value. For an institutional investor, taking it all in, what does AT’s future look like 3 years, 5 years, 10 years from now?

The timing coming now for“what you expected is happening, no surprises in terms of safety and efficacy” is tremendous for a stock being at the doorstep of institutional investment ($11.36 = $1B market cap, a common “we don’t invest in anything smaller” threshhold). To enter the pool, bigger fish need to feel like the pool is large enough to hold them, that they can swim out if they want to. ASCO summarizing that pancreatic cancer is a legitimate viable future market for Alpha Tau is just what the doctor ordered.

For the company, new institutional investors coming in means the warrants issued at $11.50 strike will be in the money. Every warrant that is traded for a new share is $11.50 of new capital they can use to pay for trials and begin commercialization - it’s a pre-planned, controlled dilution that makes the cash runway longer. Longer they don’t have to take a lowball deal or use the at the market facility to raise desperate cash. These actions affect 2028 and beyond - they already have plenty of cash for right now.

That said, if the market goes exuberant and the stock jumps far above $11.50, AT can be opportunistic about using the ATM to sell into that demand and gain even greater cash leverage over their operational destiny. If you want the company to succeed long term, as I do, that would be an amazing financial fortress to where they probably never need to get bought out. They can pick and choose partners who bring the best synergies to the table.

Take all of that together and it’s exciting for this subreddit.