Ann: Proposed issue of Securities - MDC, page-4

Agree, but the issue is the increased spending not being offset by positive cashflow hence the need for a capital raising again.

the gamble here is that management is banking on its drug discovery becoming cash flow positive in the near future hence amping up the spending but in this case the cash flow being generated from product sales is minimal and isn't enough to offset the constant need to raise further capital and further dilution follows.