When Matt started the conference by saying his presentation was pretty much the same as the last one given I almost smashed my computer. I have never gone into one of these dog and pony shows expecting much but as they say, hope springs eternal.

After the first CRL I chastised the company for being overly aggressive with the FDA. The second CRL was a sham IMO. The company has spent funds as if they expected approval the first time through. Only after the second CRL did they cut staff and burn rate. Don't get me wrong, I feel the pipeline is pretty exciting and have always been a believer Technosphere is a game changer but marshaling resources (money) will determine the success of this company. With Al showing a reluctance to belly up to the bar again and infuse funds and the potential partner using the lack of funds as a big stick, I remain conflicted.

If the company finds a way to fund through approval, I expect an immediate doubling of the share price with a run-up after that. If the company waits until the last minute and dilutes like they did last go around, I expect a new 52 week low.

They say good things are worth waiting for. I will be here when we all find out whether or not this thing takes off or crashes into the fence at the end of the runway. I remain convinced the product might change the way we treat diabetes patients. Let's see how the market responds to this long overdue innovative therapy.