i also believe that pci biotech did not have to announce any delays in start up of pivotal phase II, they said the main reason was doing a feasibility study of 200 sites to select the best in recruiting sites at the same time they said they will include sites already used in phase I . for me this does not make sense considering they will go for 40 sites, because they could have initiated the pivotal phase II in one of these sites they already used (for example Frankfurt university hospital) and get first patient dosed while scouting for the remaining 39 sites.
I have my doubts (I might be wrong) that pci biotech deliberately announced the delay under pressure from the big guarantors to drop down the price for a higher potential equity transfer, I might be wrong but the whole thing does not make total sense to me, we will never know what was agreed between the 2 parties, but I comfort myself by trusting the board and management and allow them to play the necessary negotiation games for the future good of patients and the company including us the shareholders