Manufacturing timeline had already slipped by one quarter according to the May 2017 investor presentation compared to earlier in the year. This announcement confirms further slippage. With the tox studies taking 9 months, its hard to see the clinical studies studies starting before middle of 2018. You could argue that this would still bring the study in before the end of 2018 with a 6 month timeline but that would be one of the fastest Phase 1 clinical studies ever. Outcome more like well into 2019 IMO. There is also no detail on what the Phase 1 study looks like, given that they are banking on doing a deal at the outcome of the study.
I'm with you AC, seems to me plenty of risk taking an entry at this stage.
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Manufacturing timeline had already slipped by one quarter...
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