If POH wins even at the lower end of the range - $60-100mil, not only will any CR be well at a higher price but it would be well oversubscribed.
Might be just as likely that the award (even delayed) might attract some serious partners - and dare I say it - even takeover or merger offers. Small seriously cashed small biotech with patents/licences ready for commercialisation would be interesting to many other companies.
The award may just be the beginning of a brighter more profitable future. May not even be a need to CR with partners linked up..
And.......if we win!, page-33
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