MREO ready to move on pipeline and cash on hand?

I entered my position in MREO back in late 2025, when the stock was trading in the $3–4 range amid strong anticipation for the setrusumab Phase 3 data (partnered with Ultragenyx for osteogenesis imperfecta treatment). Then, toward the end of December, the ORBIT and COSMIC trials unfortunately missed their primary endpoints on annualized fracture reduction, leading to a sharp decline of roughly 80–90% in just a couple of days, with shares dropping to the $0.25–0.30 level. It was a tough hit—I got significantly underwater and nearly liquidated my entire position in the panic, but I held onto a portion and have actually added modestly over the past few weeks. This week (January 12 update), the company provided some reassuring details: cash and equivalents remain at approximately $41 million as of December 31, 2025, extending the runway into mid-2027. They're conducting further analyses on the positive bone mineral density (BMD) improvements, which showed strong statistical significance, along with patient-reported outcomes on pain and function. The team is engaging with regulators to explore potential next steps for setrusumab, while advancing alvelestat toward a single global Phase 3 trial for AATD-associated lung disease. Additionally, the CEO presented at the J.P. Morgan Healthcare Conference just a couple of days ago (January 14). The stock has rebounded meaningfully, now trading in the $0.60–0.70 area (with some volatility today). Analyst coverage remains constructive post-update. Needham recently adjusted its price target to $3 from $5 but maintained a Buy rating, and Cantor Fitzgerald reiterated Overweight. As with any biotech, the risks are substantial: regulatory hurdles, further trial setbacks, or dilution could drive it lower, potentially to zero in a worst-case scenario. That said, much of the negative news appears priced in at current levels, and there's still a viable pipeline (especially alvelestat) with a decent cash position to support operations. Curious to hear others' views are, is this setting up for a potential recovery, or do you see more downside ahead?