RE:Unexplained The 2M was Baxter's option to exercise as set out in the original Feb 4, 2020 contract. It was originally (redacted) but believed to be 5M but Spectral borrowed 2.5M early.
That said, the way Spectral has decided not to disclose information around this "Milestone" are not just fair questions, they should be an obvious questions to any shareholder.
Like: Why did "exceeding expectations" and "Baxter reviewing raw data" both disappear from IRs at the same moment? right around 82 patients enrolled - just after that odd Jan 3rd BOD meeting.. wink, wink.
Why did enrollment 4X at that same point..
So many voices were talking about Baxter's new involvement..
Then Spectral (on a call- not in print) tells us Baxter never even looked at the data.
In the big PR Spectral spent 5 paragraphs creating a fog around an "Extension of Exclusive Supply and Distribution Agreement"
Spectral's only mention of "Tigris" was in one sentence- and just in the context of once 90 were enrolled Baxter had an option..
So the Milestone and Catalyst they always sold us- was nothing to management? An Extension- because of the COVID slowed trial- was the BIG NEWS!
Then (on a call- not in print) the new excuses not to share raw data, and deny Baxter trial oversite confirmation. With some mumbles thrown in..
So many questions. But, probably too many people with answers to bury it fully.