Well another ~47M shares (for total of $9M; $8M institutional and $1M from directors) will be added to existing ~396M (excluding another 7.4M shares from 15C, 20C and 17.5C options) that will make a total issue of shares around 443M (MC of $84M at issue price of 19C). Not a significant dilution, however management possibly targeting grants from US, UK and AU jurisdictions, otherwise $9+$3.94 =$12.94 may not last very long.
I was thinking around 15-20M mark but all will depend on rollout of new patients, PH 2 readout and outlook thereafter. We'll see how SP behave on Friday.
Ann: Trading Halt, page-62
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