|I like this analogy from a Freakonomics episode about developing a Covid-19 vaccine:
Any biotech company ... has to manage their finances properly. The primary purpose of a bridge is to link two pieces of land across a body of water or a valley. A bridge that's 50% complete, or 90% or 99%, while it may provide other uses, doesn't accomplish it's primary function. #business
Without money, they can't conduct clinical trials. They can't do research. And so, all the progress that we see will stop if they run out of money. And the asset that they worked so hard to develop actually gets destroyed.
It's like building half a bridge. A half a bridge is not half as good as a full bridge.