Ann: Placement and Share Purchase Plan , page-24

Last raising at 7c they kept all the money raised. No scaling back. History suggests they might do the same this time. We could be in for greater dilution than most are anticipating.

As to why they need the money my guess is that they want a war chest in case they need to restart the trial.

The results will be good, I'm pretty sure of that, but what is far less certain is whether the FDA will be satisfied that enough data has been collected.

If not then plan B is going to be very costly.