My guess is the BOD took a look around them and gauged the trouble other small caps are having raising capital in the current environment.
With that environment forecast by many to worsen through 2023, the cautious approach was to take a deal now while it is on the table.
Regarding clinical program inflection points, an inflection point can go one of two ways and no matter how confident we all are in the success of pivotal trials for IHL42x, if critical funding is in the balance without which the entire company grinds to a halt, would you really want to risk having to raise after a pivotal trial failure, compounded with potentially softer market conditions than even now?
My guess is the BOD took a look around them and gauged the...
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