Once they show efficacy in Phase II, all bets are off. You will be told that you have to wait years, but Big Pharma doesn't care to wait. there will be an offer to buyout BIOD because they probably have the best Diabetes treatment available. After Phase II results (which I believe will be favorable) this stock will become as volatile as any you've ever owned. To talk about waiting until Phase III will be a fools game. I plan on doubling my position because this stock is primed for, if not a buyout, than an incredible amount of speculation..