At the end of the day, the results of the meeting with the FDA...

At the end of the day, the results of the meeting with the FDA was not great, but it wasn't terrible either.

Yes, it turns out PAR need additional money to fund an expanded money which is not great, but does it really add a material amount of time? In the scheme of things not really. Those studies can be run concurrently.

Why did they raise capital so suddenly? Well, in this market, if there is a whiff of a shortage of cash, many will probably start dumping at least some of their shares in the hope of buying back when that discount is announced - me included probably.

So as unsavoury as it is to be diluted, at this stage; there is still plenty of upside left on the table, and there are positives to take away from it and PAR can continue to go forward with their product.