The earnings call reveals several concerns: increasing expenses and net loss, a postponed BLA submission, and vague management responses in the Q&A. Despite potential partnerships and strategic plans, the financial health and uncertainties around funding and timelines overshadow positive aspects. The increase in research and development expenses and the net loss, coupled with the postponed BLA submission, contribute to a negative outlook. The lack of clear guidance and specific plans to expedite regulatory processes further dampens sentiment, leading to a prediction of a negative stock price movement.