I'm very impressed with this innovative and clever company. Relying on licensing for p-aat then using high efficacy recombinant aat (animal models - 40x lower dose) to treat those licensing patents in the future. The recombinant aat is not too novel for the approval process and can be supported with aat safety data - minimizing a lot of risk. I have no doubt that this company will be bought out early after a partnership agreement...effective diabetes 1/COPD/GVH therapy are too big to ignore with fc-aat potential. When fc-aat or its derivative is approved,traditional aat companies will need another inhibitor to compete. Management is also top notch with an excellent CEO and CSO.