Sinclair is the co-founder and chairman of Life Bio. which holds the warrants. He definitely plays a decisive role in whether or not exercising those warrants. If you are particular about the use of "his", you are right. Sinclair doesn't own those warrants directly.
Life Bio. runs a new model of venture capital. Currently their investment in PRAN looks like a disaster. The share price is halved. Without further investment, the P2 trial will be halted. Their stakes will be seriously diluted or burnt out. Why do they still choose to give up those warrants? The answer could be as simple as what you suggested. I am just listing what looks reasonable to me, because I am thinking the present situation is possibly under someone's control.
ATH Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
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