This raise, its timing and structure makes sense. Given the free options given at the last raise are basically worthless and unlikely to be exercised, I see this CR as compensating current shareholder by allowing us to top up at a good price. They could have made a placement at this price without involving current shareholders- now that would have gone down like a cup of cold sick. But these sorts of placements happen all too often. The cLTX phase 1 results are better than anything achieved to date by any biotech.
Ann: Entitlement Offer to raise approximately $10 million, page-60
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