They don't want another CR. Under this SPP they have issued 60 million options at 40c.
DBX want the spare price well above 40c by the end of next year to raise up to $24m in converted options to fund the 2nd half of FSGS plus other activities (DKD, COPD). Note that the two Phase 3 covid trials are being fully funded by W.H.O.
Possibly its this reduced risk of dilution that is part of the reason the SP has been so well supported despite the CR at 20c.It has been a very well planned and executed capital management strategy. Kudos.
If the covid results are excellent some of those oppies could be getting converted this year, fingers crossed.
They don't want another CR. Under this SPP they have issued 60...
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