Celea2 Jul 2026 16:47
I agree that the deal is disappointing but what people seem to be missing is that the total funding required for the phase 3 trial is c $500m. The $180m announced today is only the first tranche of this - hence they said they are reserving an additional $70m for the rest. They could have been clearer about this, but the point is that unfortunately PRTC could not have realistically funded the full trial themselves so needed to bring in a substantial amount of external capital.