The Phase 1 results look incredible. Phase 2 seems to have had patients lined up to be in the trial.
However, the CEO left a little bit ago. I’m not sure if it’s voluntary or involuntary yet, but I’m assuming that the next quarter’s balance sheet should show a relatively large accrual if he was fired. Even if he left voluntarily, I doubt it had anything to do with the company. I’d bet that he found something safer or that he didn’t get along with the other memebers of the board / management team.
Does anyone have a short thesis beyond the inherant riskiness of a startup?