PAA, A New Dawn , FDA ODD Approval and Entering Phase II MND Trial, page-134

Remembering of of course that the cash raised this time is not simply to keep the BoDs wages going and the lights on. This time it is for a definite reason, the phase 2/3 registration study. The end of which study could create a blockbuster product! Any investor putting money into PAA now is taking a well defined calculated risk with a well understood target end point. IMO if we were to see a backer investing in PAA from any of your first 3 options you would see a rise in the SP even if the CR was done at a small discount to the current SP. I think that most retail investors would see such a backer as a massive vote of confidence in MPL. I've seen it before when a well respected backer has thrown their weight behind a company, everyone else thinks that if they think it's a good bet then it probably is.