A very good summary of why I am long on this stock and why 5-10 years down the road it has an excellent chance of being a $2 - $5 stock, but looking at what you have written my short-term concerns are easily justified.
I see 10 proteins going for IND and more proteins that will require filing and subsequent clinical trials (which devour cash) and none will show a payout in 18 months or less. These are great in the long-term but form a short-term money pit.
Like you I foresee a pretty substantial ramping up of production and a continued net positive cash flow, but the only way it jumps as high and fast as some folks suggest would be a buy-out (for which my RRSP prays every day). Since I haven't heard anything about that I will continue to book my solid returns and wait for the long-term payout.