waiting for the first drawdown, page-10

After reading this thread I went back to the announcement and am relieved that the cap is 3c not 0.3c as I first read it. This now reads a lot better than what I thought. Clearly La Jolla only make good money if the share price goes up, so it is an endorsement of the business model. Given the volume of this stock the 15% discount is going to be nothing if they have to unload a heap of shares.

I actually think it is the best we could have hoped for, in lieu of a miraculous front loaded contract.