RE:Some thoughts on the news
they seem to answer your question 1) here:
Our lead small molecule product candidate, fezagepras (PBI-4050), is expected to enter an additional Phase 1 clinical trial in 2H-2020 to evaluate multiple ascending doses of fezagepras in healthy volunteers, at daily dose exposures higher than those previously evaluated in our completed Phase 1 and Phase 2 clinical trials.
So why do they return to phase 1 , maybe the dosage is huge ?