Mark gave me a call late last night...or should I say very early in the morning as he's at a CEO conference in Ireland.

I have to say I remain impressed with his logical approach to building a business. There are no shortcuts in biotech and he's taking the right path, in my opinion. The team is strong and he thinks he's brought in one of the best SABs in the industry.

Funding remains the biggest issue for Bioasis, but I believe that will be resolved in time as their programs are producing quality results. In particular their competitive positioning versus Denali appears to be catching lots of people's attention. That being said, there will be more dilution coming as the last financing was more of a bridge.

He's hopeful to eventually qualify for Nasdaq without needing a reverse split. We'll see if that comes true, but would be a very nice treat. Certainly makes me think there's some good things going on that he can't reveal at this time.