Debt is substantially lower from just 2 years ago. Read the latest reports. Note the payments from partners when they will be due this year. Make or break mode is not realistic. At their burn rate, they have a decade to come through. And with partnerships strengthening, they may burn slower in the coming years. Consider what happens if just one antisense project finally reaches full approval, validating the platform? Sorry to say, but your thesis is wrong. Crammer says so. Ha!